CBSE 12th Accountancy Answer Key 2025 and Question Papers, Download PDF All SETs

The CBSE Class 12 Accountancy Paper 2025 exam was conducted today, March 26, 2025. The exam lasted for 3 hours, conducted from 10:30 am to 1:30 pm, with an additional 15 minutes given for reading the question paper.

Here we are providing a detailed analysis of student responses, expert opinions and the difficulty level of the paper including expected good scores, time-consuming section and longest question.

As the exam has concluded, a comprehensive analysis will be provided by our subject experts, including section-wise breakdowns. 

We have shared the CBSE Class 12 Accountancy Question Paper 2025 PDF and answer key to help students check their answers and evaluate their performance. Direct link to download CBSE 12th Accountancy Question Paper 2025 to be available on this page.

👉 CBSE Class 12 Accountancy Question Paper 2025 with Answer Key (Set - 1)

👉 CBSE Class 12 Accountancy Question Paper 2025 with Answer Key (Set - 2)

👉 CBSE Class 12 Accountancy Question Paper 2025 with Answer Key (Set - 3)

CBSE Class 12 Accountancy Exam Analysis 2025: Student Reviews

• Overall, the Accountancy paper was Moderate as per the student's review.
• The difficulty level of Part A was Easy to Moderate.
• ​​In Set 1 some questions of high weightage were tricky.
• Overall paper was lengthy with tricky questions with a lot of calculation.

CBSE 12th Accountancy Exam Analysis 2025

Check the complete CBSE 12th Accountancy Exam Analysis 2025 in the following table.

Parameters	CBSE 12th Accountancy Exam Analysis 2025
Overall difficulty level of the paper	Moderate
Difficulty Level of Part A: Accounting for Partnership Firms and Companies	Easy to Moderate
Difficulty Level of Part B: Analysis of Financial Statements	Moderate
Overall expected good score	70+
Lengthiest Question (If any)	Cash flow statement, Ratio analysis, Retirement (Revaluation of partners' capital) were lengthy.
Time-Consuming Section (If any)	Part A

CBSE Class 12 Accountancy Answer Key 2025

SET-1

Get here the complete answer key for CBSE Class 12th Accountancy Exam 2025

PART - A
(Accounting for Partnership Firms and Companies)

1. Arun, Bashir, and Joseph were partners in a firm sharing profits and losses in the ratio of 5:3:2. They admitted Daksh as a new partner who acquired his share entirely from Arun. If Arun sacrificed 1/5 of his share to Daksh, Daksh’s share in the profits of the firm will be:

(A) 1/10
(B) 1/5
(C) 3/10
(D) 2/5

2. Eliza, Fenn, and Garry were partners in a firm sharing profits and losses in the ratio of 4:3:1. Fenn was guaranteed ₹25,000 as his share in the profits. Any deficiency arising on that account was to be met by Eliza. The firm earned a profit of ₹80,000 for the year ended 31st March 2024. The amount of profit credited to Fenn’s capital account will be:

(A) ₹30,000
(B) ₹40,000
(C) ₹25,000
(D) ₹10,000

3. Wayne, Shaan, and Bryan were partners in a firm. Shaan had advanced a loan of ₹1,00,000 to the firm. On 31st March 2024, the firm was dissolved. After transferring various assets (other than cash & bank) and outside liabilities to the Realisation Account, Shaan took over furniture of book value ₹90,000 in part settlement of his loan amount. For the payment of the balance amount of Shaan’s loan, the Bank Account will be credited with:

(A) ₹1,00,000
(B) ₹90,000
(C) ₹1,90,000
(D) ₹10,000

4. Pulkit and Ravinder were partners in a firm sharing profits and losses in the ratio of 3:2. Sikander was admitted as a new partner for 15\frac{1}{5}51 share in the profits of the firm. Pulkit, Ravinder, and Sikander decided to share future profits in the ratio 2:2:1. Sikander brought ₹5,00,000 as his capital and ₹10,00,000 as his share of premium for goodwill. The amount of premium for goodwill that will be credited to the old partners’ capital accounts will be:

(A) Pulkit’s Capital Account ₹10,00,000
(B) Pulkit’s Capital Account ₹6,00,000 and Ravinder’s Capital Account ₹4,00,000
(C) Pulkit’s Capital Account ₹5,00,000 and Ravinder’s Capital Account ₹5,00,000
(D) Pulkit’s Capital Account ₹2,00,000

5. Kajal and Laura were partners in a firm sharing profits and losses in the ratio of 5:3. They admitted Maddy for 1/4 share in future profits. Maddy brought ₹8,00,000 as his capital and ₹4,00,000 as his share of premium for goodwill. Kajal, Laura, and Maddy decided to share profits in future in the ratio 2:1:1. After all adjustments in respect of goodwill, revaluation of assets, and liabilities, etc., Kajal’s capital was ₹10,00,000 and Laura’s capital was ₹8,00,000. It was agreed that partners’ capitals should be in proportion to their new profit-sharing ratio, taking Maddy’s capital as base. The adjustment was made by bringing in or withdrawing the necessary cash. The cash brought in by Kajal was:

(A) ₹1,00,000
(B) ₹8,00,000
(C) ₹16,00,000
(D) ₹12,00,000

6. Assertion (A): The maximum number of partners in a partnership firm is 50.
Reason (R): By virtue of the Companies Act 2013, the Central Government is empowered to prescribe the maximum number of partners in a firm. The Central Government has prescribed the maximum number of partners in a firm to be 50.

Choose the correct option:

(A) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(B) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(C) Assertion (A) is true, but Reason (R) is false.
(D) Both Assertion (A) and Reason (R) are false.

7. Nandita and Prabha were partners in a firm. Nandita withdrew ₹3,00,000 during the year for personal use. The partnership deed provides for charging interest on drawings @ 10% p.a. Interest on Nandita’s drawings for the year ended 31st March 2024 will be:

(A) ₹9,000
(B) ₹30,000
(C) ₹18,000
(D) ₹15,000

8. Radhika, Mehar, and Shubha were partners in a firm sharing profits and losses in the ratio 9:8:7. If Radhika’s share of profit at the end of the year amounted to ₹5,40,000, Shubha’s share of profit will be:

(A) ₹5,40,000
(B) ₹4,80,000
(C) ₹60,000
(D) ₹4,20,000

9. Suhas and Vilas were partners in a firm with capitals of ₹4,00,000 and ₹3,00,000 respectively. They admitted Prabhas as a new partner for 15\frac{1}{5}51 share in future profits. Prabhas brought ₹2,00,000 as his capital. Prabhas’ share of goodwill will be:

(A) ₹1,00,000
(B) ₹10,00,000
(C) ₹9,00,000
(D) ₹20,000

10. Offer of securities or invitation to subscribe securities to a select group of persons by a company (other than by way of public offer) is known as:

(A) Sweat equity
(B) Incorporation cost
(C) Private placement of shares
(D) Employee stock option plan

11. Ajay Ltd. forfeited 100 shares of ₹10 each for non-payment of the first call of ₹2 per share and second & final call of ₹3 per share. The minimum price per share at which these shares can be reissued will be:

(A) ₹6
(B) ₹4
(C) ₹10
(D) ₹16

12. (a) The amount of share capital which a company is authorised to issue by its Memorandum of Association is known as:
(A) Nominal capital
(B) Issued capital
(C) Reserve capital
(D) Subscribed capital

Correct Answer: (A) Nominal capital

12. (b) According to Securities and Exchange Board of India (SEBI) guidelines, the minimum subscription of capital cannot be less than 90% of:
(A) Authorised capital
(B) Issued capital
(C) Reserve capital
(D) Subscribed capital

Correct Answer: (D) Subscribed capital

13. (a) Debentures on which a company does not give any undertaking for the repayment of money borrowed are called:
(A) Bearer Debentures
(B) Secured Debentures
(C) Perpetual Debentures
(D) Registered Debentures

Correct Answer: (C) Perpetual Debentures

13. (b) If the amount of debentures issued is more than the amount of the net assets taken over by a company, the difference will be treated as:
(A) Capital Reserve
(B) Goodwill
(C) Purchase Consideration
(D) General Reserve

Correct Answer: (B) Goodwill

14. (a) The following journal entry appears in the books of Latvion Ltd.:

Date	Particulars	Dr. Amount (₹)	Cr. Amount (₹)
	Bank A/c	Dr.	4,75,000
	Loss on issue of debentures A/c	Dr.	75,000
	To 12% Debentures A/c		5,00,000
	To Premium on Redemption of Debentures A/c		50,000

The discount on the issue of debentures is:
(A) 15%
(B) 5%
(C) 10%
(D) 95%

Correct Answer: (C) 10%

14. (b) Zeba Limited issued 15,000, 9% debentures of ₹ 100 each at 10% discount on 1st April 2023. It has a balance of ₹ 1,00,000 in Securities Premium Account. The ‘Discount on issue of Debentures’ ₹ 1,50,000 will be written off:

(A) ₹ 1,00,000 out of Securities Premium Account and ₹ 50,000 out of Statement of Profit and Loss
(B) ₹ 50,000 out of Securities Premium Account and ₹ 1,00,000 out of Statement of Profit and Loss
(C) ₹ 1,50,000 out of Securities Premium Account
(D) ₹ 1,50,000 out of Statement of Profit and Loss

Correct Answer: (A) ₹ 1,00,000 out of Securities Premium Account and ₹ 50,000 out of Statement of Profit and Loss

15. (a) Anisha, Deepa, and Charu were partners sharing profits and losses in the ratio of 6:3:2. On 31st March 2024, they decided to change their profit-sharing ratio to 2:3:5. Each partner’s gain or sacrifice due to the change in the profit-sharing ratio will be:

(A) Anisha’s sacrifice 3/10 : Charu’s gain 3/10
(B) Anisha’s gain 3/10 : Charu’s sacrifice 3/10
(C) Anisha’s sacrifice 3/10 : Deepa’s gain 3/10
(D) Deepa’s gain 3/10 : Charu’s sacrifice 3/10

Correct Answer: (A) Anisha’s sacrifice 3/10 : Charu’s gain 3/10

15. (b) Preet and Saral were partners sharing profits and losses in the ratio of 3:2. On 31st March 2024, they decided to change their profit-sharing ratio to 1:1. On the date of reconstitution, the goodwill of the firm was valued at ₹ 1,00,000. The journal entry for treatment of goodwill on account of change in the profit-sharing ratio will be:

Particulars	Dr. Amount (₹)	Cr. Amount (₹)
(A) Preet’s Capital A/c Dr.	1,00,000	To Saral’s Capital A/c
(B) Saral’s Capital A/c Dr.	1,00,000	To Preet’s Capital A/c
(C) Preet’s Capital A/c Dr.	10,000	To Saral’s Capital A/c
(D) Saral’s Capital A/c Dr.	10,000	To Preet’s Capital A/c

Correct Answer: (C) Preet’s Capital A/c Dr. ₹10,000 To Saral’s Capital A/c ₹10,000

16. (a) Ishan, Jatin, and Kapil were partners in a firm sharing profits and losses in the ratio of 5:4:1. Jatin retired and his share was taken up by Ishan and Kapil in the ratio of 3:1. The new profit-sharing ratio between Ishan and Kapil after Jatin’s retirement will be:

(A) 6:4
(B) 5:4
(C) 7:3
(D) 7:1

Correct Answer: (C) 7:3

16. (b) Sakshi, Kiara, and Gunjan were partners in a firm sharing profits and losses in the ratio of 3:2:1. Kiara retired on 1-4-2023. After all adjustments, the amount due to Kiara was ₹ 5,00,000. The payment was to be made in two yearly installments of ₹ 2,50,000 each, and the firm agreed to pay interest @ 10% per annum on the unpaid balance. The amount of the first installment paid on 31-03-2024 will be:

(A) ₹ 6,50,000
(B) ₹ 5,00,000
(C) ₹ 2,50,000
(D) ₹ 2,75,000

Correct Answer: (D) ₹ 2,75,000

27. The Quick Ratio of a company is 1:1. Which of the following transactions will result in an increase in Quick Ratio?
(A) Cash received from debtors
(B) Sold goods on credit
(C) Purchased goods on credit
(D) Purchased goods on cash

Correct Answer: (B) Sold goods on credit

28. Statement-I: Snow Limited earned a profit of ₹ 2,00,000 after charging depreciation of ₹ 50,000 on machinery. So, operating profit before working capital changes will be ₹ 2,50,000.
Statement-II: Depreciation is added back to net profit as it does not result in any cash flow.

Choose the correct option from the following:
(A) Both the Statement-I is true.
(B) Only Statement-II is true.
(C) Both the Statements are false.
(D) Both the Statements are true.

Correct Answer: (D) Both the Statements are true.

29. (a) ______ is not a tool of ‘Analysis of Financial Statements’.
(A) Income Statement
(B) Ratio Analysis
(C) Comparative Statements
(D) Cash Flow Statement

Correct Answer: (A) Income Statement

(b) In ‘Common size income statement’ each item is expressed as a percentage of ______.
(A) Total Income
(B) Total Expenses
(C) Profit After Tax
(D) Revenue from Operations

Correct Answer: (D) Revenue from Operations

30. (a) Short-term highly liquid investments qualify as cash equivalents if they are realisable into known amounts of cash from the date of acquisition within a period of:
(A) 6 months or less
(B) 9 months or less
(C) 12 months or less
(D) 3 months or less

Correct Answer: (D) 3 months or less

(b) Which of the following item is not included in cash and cash equivalents?
(A) Trade Receivables
(B) Demand deposits with bank
(C) Short-term marketable securities
(D) Cheques in hand

Correct Answer: (A) Trade Receivables