MP Board Top 50 Questions of Accountancy Class 12th – Easy Guide for 2025 Exams

Are you feeling worried about your MP Board Class 12 Accountancy exam? You are not alone. Many students do not know which questions are most important. They waste time studying topics that never come in the exam. This article will solve that problem. Here, we have carefully picked the MP board top 50 questions of Accountancy Class 12th that are most likely to appear in your 2025 exams. These questions come from past papers, sample papers, and the official syllabus. By the end of this article, you will know exactly what to study. You will save time and get better marks. Let us begin.

1. Partnership Accounts – Top 15 Questions from MP Board Syllabus

Partnership is the most important chapter in MP Board Class 12 Accountancy. Almost every year, 20 to 25 marks come from this chapter. The questions are usually about profit sharing, admission, retirement, and death of a partner. Below are the top 15 questions you must practice.

Questions on Profit and Loss Sharing

• ✓ Q1. A and B are partners sharing profits in ratio 3:2. They admit C for 1/5 share. Calculate new profit sharing ratio.
• ✓ Q2. Explain the difference between sacrificing ratio and gaining ratio with an example.
• ✓ Q3. Pass journal entries for distribution of profit when there is a reserve fund.

Questions on Admission of a Partner

• ✓ Q4. A and B are partners with capital of ₹2,00,000 and ₹1,50,000. They admit C who brings ₹1,00,000 as capital and ₹50,000 as goodwill. Pass journal entries.
• ✓ Q5. What is goodwill? Explain the methods of valuing goodwill with examples.
• ✓ Q6. Write the journal entries for revaluation of assets and liabilities at the time of admission.

Questions on Retirement and Death of a Partner

• ✓ Q7. A, B, and C are partners sharing profits 2:2:1. B retires. Calculate new ratio and gaining ratio.
• ✓ Q8. Explain the treatment of goodwill at the time of retirement of a partner.
• ✓ Q9. Pass journal entries for the payment to a retiring partner.
• ✓ Q10. A partner dies on 30th June. How will you calculate his share of profit till the date of death?

Questions on Dissolution of Partnership

• ✓ Q11. What is the difference between dissolution of partnership and dissolution of firm?
• ✓ Q12. Pass journal entries for realization of assets and payment of liabilities.
• ✓ Q13. What is a realization account? Explain with an example.
• ✓ Q14. A firm has assets of ₹5,00,000 and liabilities of ₹1,00,000. Pass closing entries.
• ✓ Q15. Explain the rule in Garner vs Murray case for insolvency of a partner.

2. Company Accounts – Top 12 Questions from MP Board

Company accounts is another big chapter. Questions come from share capital, debentures, and issue of shares. These questions are easy if you practice journal entries. Here are the top 12 questions.

Questions on Issue of Shares

• ✓ Q16. A company issues 10,000 shares of ₹10 each at par. Pass journal entries.
• ✓ Q17. What is calls-in-arrears and calls-in-advance? Give journal entries for both.
• ✓ Q18. Explain the difference between equity shares and preference shares.
• ✓ Q19. A company forfeits 500 shares of ₹10 each (₹8 called up). Pass journal entries for forfeiture and reissue.

Questions on Debentures

• ✓ Q20. What is a debenture? Explain the types of debentures.
• ✓ Q21. A company issues 1,000 debentures of ₹100 each at a discount of 5%. Pass journal entries.
• ✓ Q22. Explain the method of redemption of debentures by sinking fund.

Questions on Financial Statements

• ✓ Q23. Prepare a format of Balance Sheet of a company as per Schedule III.
• ✓ Q24. What is the difference between capital reserve and revenue reserve?
• ✓ Q25. Explain the concept of reserve capital and its uses.
• ✓ Q26. A company has a share capital of ₹50,00,000. Prepare the equity and liabilities side.
• ✓ Q27. What is securities premium? How can it be used?

3. Ratio Analysis – Top 8 Questions for MP Board

Ratio analysis is a scoring chapter. Questions are usually direct – you just need to apply formulas. Practice these 8 questions to get full marks.

• ✓ Q28. Calculate Current Ratio if current assets are ₹1,20,000 and current liabilities are ₹60,000.
• ✓ Q29. What is Liquid Ratio? How is it different from Current Ratio?
• ✓ Q30. Calculate Debt-Equity Ratio if total debt is ₹2,00,000 and equity is ₹3,00,000.
• ✓ Q31. Explain the importance of Gross Profit Ratio with an example.
• ✓ Q32. Net Profit Ratio of a company is 12%. What does this mean?
• ✓ Q33. Calculate Inventory Turnover Ratio if COGS is ₹5,00,000 and average inventory is ₹1,00,000.
• ✓ Q34. What is Return on Investment (ROI)? Give its formula.
• ✓ Q35. Explain the difference between liquidity ratios and profitability ratios.

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