The Accountancy exam is a culmination of your year-long efforts and hard work. It requires not only a sound understanding of the subject but also meticulous attention to detail during the exam. Here are some essential precautions and tips to keep in mind:

Relax and Concentrate
Firstly, it’s crucial to remain calm and composed. The exam is an opportunity to showcase your knowledge and efforts. Take a deep breath, focus on the task at hand, and believe in yourself.

Read the Instructions
Before you dive into the questions, make sure to read the instructions on the backside of the title page of your answer sheet carefully. Understanding these guidelines will help you avoid any unnecessary mistakes.

Utilize the Fifteen Minutes Reading Time
Make the best use of the fifteen minutes of reading time provided. Plan your approach and grasp what is required for each question. Identify the questions you are most confident about and those that might need more time.

Follow the Sequence
When attempting the questions, follow a sequence that works best for you. Start with the questions you know well and leave space for the more challenging ones to be addressed later. Start from Part A or Part B. This strategy ensures that you secure marks for the answers you are confident about.

Double-Check the Questions
Before writing your answers, read each question once more to ensure you fully understand what is being asked. This precaution will help you avoid any misinterpretation and ensure that you provide relevant answers.

Avoid Common Mistakes
Common mistakes in the Accountancy exam often occur due to rushing rather than a lack of knowledge. Stay calm and take your time to avoid simple errors. Double-check your calculations and ensure accuracy.

Proper Format for Accounts and Statements
Ensure that the format of accounts and statements is drawn correctly. Neatness and proper formatting play a significant role in scoring well. If applicable, underline the main figures or enclose them in boxes for clarity.

Include Working Notes
Working notes are an integral part of the solution. Always show your working notes clearly, and keep rough work separate. This practice demonstrates your methodical approach to solving problems.

Symmetry in Digits
When writing digits in statements and accounts, maintain symmetry. This practice saves time and effort during totaling and reduces the chances of errors.

Fill in the Blanks and MCQs
For fill-in-the-blank questions (In case there is any), write the entire question along with the answer, and underline or highlight the answer figures and entries. For multiple-choice questions (MCQs), write the part number followed by the answer statement clearly. Skip one or two lines between MCQ answers for better readability.

Start Long Questions on a Fresh Page
Always start long questions on a fresh page. This practice helps in organizing your answers and makes it easier for the examiner to follow your work.

Correcting Mistakes
If you need to correct something, use a single horizontal stroke to cut through the word, amount, or sentence. If you need to cancel an entire statement or account, draw a big cross over it. Avoid making your answer sheet messy with too many corrections.

So, these were 12 Tips to Attempt Accountancy Exam. Following these will definitely help you attempting the exam perfectly.

MCQs on Partnership Accounting Class 12

MCQs on Company Accounts Class 12

MCQs on Analysis of Financial Statements

The post 12 Tips to Attempt Accountancy Exam. appeared first on Commerceatease - Website for 11th & 12th Commerce.

Students find attempting the case studies difficult normally, but if they attempt case studies after following the tips explained in previous articles, Case Studies Become Easy.

Here 14 Questions on Case Studies have been taken from Sample papers and previous year papers of CBSE, to illustrate the process of solving the case studies easily and score full marks.

Precaution: Always read the question of case study first, then read the case.

Analyze the question properly, to understand the requirement of the examination, before framing the answer.

Given after each question, are the hints and steps to attempt the answer.

Question 1:

The General manager of a reputed organisation, Mr. Agastaya Lokhande, made the following announcement at the Annual General Meeting of the company- “When we think of a brand, we think of reputation, but the reputation is made or broken by the quality of products and customer representation. If people are miserable, they can't give their best work and the brand suffers. On the contrary, positive results can be observed if there is job satisfaction, effective and efficient functioning.”

(I) Identify and explain the feature of management discussed by Mr Agastaya in his announcement.

(II) Explain any three reasons that make management important to any organisation.

Answer:

(I) Management is an intangible force - heading and explanation

(II) Importance of management - Any three points to be explained

Solution of Case Studies

Question 2:

From the following information regarding Aditya Ltd. which is in the business of manufacturing green tea, calculate the Return on Investment and Interest Coverage Ratio of the company: (Show working) Earnings before interest and tax ₹ 15,00,000, 10% debentures ₹ 12,00,000, Equity Share Capital (₹10 each) ₹ 18,00,000, Tax Rate 40%

Answer:

Calculation of Return on Investment (ROI) = 50% (With detailed working)

Calculation of Interest Coverage Ratio (ICR) = 12.5 times (With detailed working)

Solution of Case Studies

Question 3:

Mr Vivek Vaswani, a foodpreneur combined his passion for food with his entrepreneurial skills and started his innovative fast-food outlet OH CHILLI! in 2021. He had started his career as a food blogger and had noticed that numerous Indian consumers were looking for reasonable and pure vegetarian fast food options for dining out. The high-end restaurants were not opted by many as they were exorbitantly priced. Though many global fast-food chains were running across the country, yet not many outlets offered reasonable and healthy pure vegetarian fast food options to consumers. OH CHILLI! became a pioneer in offering a healthy and delicious variety of food.

What came as a surprise for consumers was that even without using onion or garlic in the pasta sauce, marinade and ketchup, the food could actually taste great. The company witnessed an increase in net profit of 26% in its second financial year and became a market leader.

(I) State the concept of business environment.

(II) Identify and explain in what way, a good understanding of business environment enabled Mr. Vivek Vaswani to improve the performance of the enterprise.

Answer:

(I) Business Environment - meaning

(II) It enables the firm to identify opportunities and getting the first mover advantage: Heading and explanation (From importance of Business Environment).

Solution of Case Studies

Question 4:

When Bhaanupriya joined as technical head of Logic Lotus Innovators, she was keen on increasing the productivity and profitability of the company. However, she observed that the employees were demotivated as no attention was given to their work. Also, the workers were given little freedom to make decisions. Bhaanupriya decided to stimulate the employees by giving each worker Tshirts with their name on it. She also decided to include workers in work committees. This helped in improving the performance of the workers.

(I) On the basis of the understanding of Maslow’s Need Hierarchy Theory of motivation, identify the human need that Bhaanupriya has recognized in order to make the subordinates act towards achievement of organizational goals.

(II) Identify and explain two incentives that have been provided by Bhanupriya to improve the performance of the employees.

Answer:

(I) Esteem Needs

(II) Two incentives provided by Bhanupriya:

(a) Employee Recognition programmes: heading and explanation.

(b) Employee Participation: heading and explanation.

Solution of Case Studies

Question 5:

When Chandrashekhar Shukla returned to India after completing a Certificate course in Food Quality Assurance and Quality Control from the Netherlands, he was convinced that he would fulfil his grandfather's dream of converting their 58 acres land into a fertile farm. He started by setting out specific goals and laid down related activities to be performed to achieve the goals. Soon he launched his own company ‘Food and Agribusiness Solutions Private Limited’. He sought to ensure that the future events effectively meet the best interest of the company. He prepared an annual statement for production and sales, based on sales forecasting. He noticed that the farmers grew only paddy due to which land remained idle for the subsequent 8 to 9 months of the year. He identified and assessed various alternatives through which farms could be utilised for the remaining months of the year. Through his accurate vision, judgement and systematic thinking based on analysis of the facts, he presented a scheme to the farmers where both paddy and vegetables could be grown.

Identify and explain the features of one of the functions of Management highlighted above.

Answer:

Function of management discussed here is Planning.

Features of Planning

(1) Planning focuses on achieving objectives: heading and explanation.

(2) Planning is futuristic: heading and explanation.

(3) Planning involves decision making: heading and explanation.

(4) Planning is a mental exercise: heading and explanation.

Solution of Case Studies

Question 6:

It was established by the Government of India on 12 April 1988 as an interim administrative body to promote orderly and healthy growth of the securities market and for investor protection. It was given statutory status in 1992 through an Act of Parliament.

(I) Identify the regulatory body which has been highlighted above.

(II) State the three objectives of the regulatory body identified in part (I).

(III) State any two functions that are performed for the development of the securities market by the regulatory body identified in part (I).

Answer:

(I) Securities Exchange Board of India (SEBI)

(II) Explanation of three objectives of SEBI.

(III) Two developmental functions of SEBI to be explained.

Solution of Case Studies

Question 7:

Leena has been appointed as the Operations Manager in a small trading company dealing in garments, with growing online sales. The company has recently rented space in a warehouse to store garments and mail out orders. In order to take over the responsibilities of order fulfilment, Leena promotes an associate, Kushagra to the post of Inventory and Order fulfilment Supervisor. Kushagra has been given the task to assess whether it is best to process orders as they come in or let them accumulate and then to process them in batches. He concludes that accumulating and then processing them in batches is the best way of fulfilling orders, in order to minimize cost and maximize customer satisfaction. Through several readings Leena finds that the standard time taken from the placement of order to the delivery of garments for a batch of 100 pieces is 72 hours. This helped her to determine the labour cost.

On the basis of the understanding of concepts of scientific management, identify and explain the techniques used by Leena and Kushagra to improve the performance of the employees.

Answer:

Various techniques used by Leena to improve the performance of her employees:

Method Study - Heading and explanation

Time Study - Heading and explanation

Case Studies in Previous year Question Papers

Question 8:

Two ambitious friends, Sana and Mihir, having passion for creating innovative software applications, established a tech startup named ‘Quick Solutions'. Their software was developed in such a way that it caters to the needs of all sections. Since its inception, 'Quick Solutions' was earning enough revenue to cover the costs. They faced countless challenges from competing with large and well-established companies. But they learned from their mistakes and continuously improved their product. Slowly, their software gained recognition for its quality and uniqueness and the company started making profits. It was a big incentive for Sana and Mihir for the continued successful operation of the enterprise. Within two years, the customer base increased manifold. Now, Sana and Mihir decided to make additional capital investment and hired more employees. They invested in research and development and expanded their product line to meet emerging market demands. ‘Quick Solutions' ultimately became the industry leader because of the tireless efforts of Sana and Mihir.

Quoting lines, identify and state the objectives of management discussed in the above case which 'Quick Solutions' seeks to achieve.

Answer:

Organizational Objectives

(i) Survival - ‘Since its inception, 'Quick Solutions' was earning enough revenue to cover the costs’ with explanation.

(ii) Profit - ‘Slowly, their software gained recognition for its quality and uniqueness and the company started making profits’

with explanation.

(iii) Growth - ‘Now, Sana and Mihir decided to make additional capital investment and hired more employees.’

OR

‘They invested in research and development and expanded their product line to meet emerging market demand’.

with explanation.

Solution of Case Studies

Question 9:

Neeraj Ltd. started an airline to provide good quality air services. For the same, he purchased ten aircrafts. Out of these, two aircrafts would be used to train the pilots. It will help them to achieve proficiency in handling the aircrafts before they would actually fly them.

(i) Identify and explain the method of training discussed above.

(ii) State any two advantages the pilots would get from this training.

Answer:

(i) Vestibule Training – Heading and explanation

(II) Two advantages of Vestibule Training.

Question 10:

Vibhas recently joined as a Human Resource Manager of Bajanta Enterprises'. The company had embarked on a special project for which Vibhas had appointed twenty new employees. After the employees underwent on-the-job training for a month and had been on the job for some time, there was a need to evaluate their performance against certain pre-determined standards. Not only this, 'Bajanta Enterprises' had to address the career related issues and promotional avenues for their employees. Vibhas was designing activities to serve their employees' long-term interests.

By doing this, 'Bajanta Enterprises' had completed the two important steps of staffing process. Identify and explain those steps.

Answer:

Two steps of staffing:

(i) Performance Appraisal – Heading and explanation.

(ii) Promotion and career planning - Heading and explanation.

Solution of Case Studies

Question 11:

‘Leno' is a reputed car manufacturing company, which is going to complete its 75 years in October 2024. The Chief Executive Officer of the company decided to take the company to a higher level. For this he called a meeting of all departmental heads of the company. In the meeting, the Chief Executive Officer proposed a target to increase sales by 10% and profits by 20% in its Platinum Jubilee year. The Human Resource Manager estimated that an increase of 500 workers would be required to achieve the target. The Finance Manager suggested that the company must hold adequate cash balances for various purposes, and he will prepare a statement showing the estimated cash inflows and outflows for this particular period.

Identify and explain two types of plans discussed in the above case.

Answer:

Two types of Plans are:

(i) Objectives - Heading and explanation.

(ii) Budget Heading and explanation.

Question 12:

Arushi successfully runs a bookstore 'Children's Delight' catering to children of the age group 5-15 years. They have the complete range of children's books like activity books, colouring books, fiction and much more. The books are of good quality and are highly appreciated by schools, parents and children. They have 16 stores all over India, where children can not only purchase the books, but can also come and read, and participate in quiz competitions and experience the joy of reading. They have their own well managed inventory management, storage, and warehousing to deliver books to locations all over India. The bookstore regularly communicates the availability, features, merits, etc. of the books to target customers and persuades them to buy the books.

Quoting lines in the situation, identify and explain the two elements of marketing mix in addition to 'Product' highlighted in the above case.

Answer:

In addition to Product here means, two other elements than Product…

(i) Place

‘They have 16 stores all over India’.

OR

‘They have their own well-managed inventory management, storage, and warehousing to deliver books to locations all over India’.

Explanation

(ii) Promotion

'The bookstore regularly communicates the availability, features, merits, etc. of the books to target customers and persuades them to buy the books’.

Explanation

Solution of Case Studies

Question 13:

Rewton Ltd. was a reputed computer software company providing unique software all over India. The turnover of the company was very high resulting in good profits. The Chief Executive Officer, Vihaan, was very strict and disciplined. He specified the boundaries of authority and responsibility for achieving organizational goals. There was systematic coordination among the various activities and specific relationships among various job positions. The company provided facilities like a canteen, a gym, a library, a music room, and a rest area for its employees, which they could use during rest intervals. Using these facilities, the employees developed friendships and discussed not only their personal, social and emotional issues, but also the official ones. The General Manager was of a different view. He told the Chief Executive Officer that there was no use providing these facilities to the employees as it is an extra financial burden on the organization on one hand and on the other hand, it encourages groupism and whenever any change is required in the organization, they all resist. He suggested that they should do away with these facilities. But the Chief Executive Officer, Vihaan, explained to the General Manager that this type of social interaction is necessary, and is in the best interest of the organization. These interactions among people at work give rise to a network of social relationships among employees and have many benefits.

(I) Identify and explain the type of organization whose existence the Chief Executive Officer felt was necessary.

(ii) State any two advantages and two disadvantages of the type of organization identified in (i) above.

Answer:

(i) Informal Organization

Explanation

Solution of Case Studies

Question 14:

Nishtha runs a chain of famous restaurants, 'Indian Kitchen', in different parts of Delhi. The restaurant chain was known for good quality food and quick service. 'Indian Kitchen' was generating good revenue and had goodwill in the market. Nishtha would take a weekly report from all the Restaurant Managers and take necessary action to resolve the problems, if any. Nishtha noticed a sudden decline in sales in one of the restaurants. She questioned the Restaurant Manager who mentioned that the restaurant is seeing a gradual decrease in the number of customers but could not provide a clear explanation for it. So, Nishtha formed a team to find out the causes of the declining customers as this is the key area for restaurant business and is critical to the success of business. By doing this, Nishtha is performing a step of the process of a function of management.

1. i) Identify and explain the function of management discussed
2. ii) Explain the step of the function identified in (i) above, followed by Nishtha to find out the causes of declining revenue.

iii) Explain the step Nishtha will take after she gets the report from the team formed to find out the causes of declining revenue.

Answer:

(i) Controlling – Heading and explanation

(ii) Analyzing Deviations - Detailed explanation

(iii) Taking Corrective Action - Detailed explanation

Following articles include more than 70 case studies from all the units of the syllabus.

How to Solve Case Studies?

How to Solve Case Studies in Business Studies?

4 Super Tips to Solve Case Studies in Business Studies Class 12

The post Solution of Case Studies Becomes Easy This Way appeared first on Commerceatease - Website for 11th & 12th Commerce.

Topper's Checklist to Excel in Board Exams.

This checklist provides essential strategies for students aiming to score 95% and above. From understanding the syllabus to effective revision techniques, this guide covers all crucial aspects to help you excel:

1. Understanding the Syllabus and Blueprint

Before diving into studies, thoroughly understand the syllabus for each subject. This helps you identify the important topics and allocate your study time effectively. Syllabus has been simplified to check exact topics you have to do. Marginal learners may check the minimum learning topics.

Class 12 Accountancy Syllabus (2024-25) Simplified

Business Studies Simplified Syllabus Class 12 (2024-25)

Minimum Level Learning – Accountancy 12

Minimum Learning Topics in Business Studies

Blueprint of Accountancy Paper Class 12, 2024-25

Blueprint of Business Studies Paper Class 12 (2024-25)

2. Creating a Study Schedule

Develop a realistic and balanced study timetable. Allocate time slots for each subject, with more focus on weaker areas. You have enough time. Start with the difficult topics first. Don’t depend on others for this. Ensure you include breaks to avoid burnout.

3. Setting Clear Goals

Set specific, achievable goals for each study session. This could be completing a chapter, solving a certain number of problems, or revising key concepts. Set the topic or chapter to be done and maximum time duration for study not the minimum time duration for study.

4. Consistent Revision

Regular revision is crucial for retention. Plan periodic revisions and stick to the schedule. Revising previously studied material helps reinforce your understanding. Normally, you need to cover a topic three times, where successive reading becomes faster.

5. Practice with Past Papers

Solve previous years’ question papers to check the level of questions asked and the latest sample papers issued by the board for your desired level of preparation. This familiarizes you with the exam pattern, types of questions, and helps improve time management skills.

Accountancy Class 12 CBSE Question Papers

Business Studies Class 12 CBSE Question Papers

Accountancy Class 12 CBSE Sample Papers

Business Studies Class 12 CBSE Sample Papers

6. Taking Notes

Make concise notes while studying. Highlight important points, formulas, and dates. These notes will be invaluable for quick revision before the exams.

Check for keywords and brief notes in Business Studies that you can supplement further. Prepare brief notes for Accountancy on your own. Your active involvement in preparing notes will ultimately strengthen your memory.

7. Understanding Concepts

Focus on understanding the underlying concepts rather than rote memorization. A strong grasp of concepts makes it easier to tackle application-based questions. All articles here, have relevant interactive activities for checking the understanding of topics and concept clarity.

8. Regular Self-Assessment

Test yourself regularly with quizzes and mock exams. Identify your strengths and areas for improvement. Self-assessment helps track your progress and adjust your study plan accordingly. For more interactive activities and self-test exercises, follow Fun with Accountancy and Fun with Business Studies.

9. Healthy Lifestyle

Maintain a healthy lifestyle with a balanced diet, regular exercise, and adequate sleep. A healthy body supports a sharp mind, which is essential for effective studying.

10. Seeking Help When Needed

Don’t hesitate to seek help from teachers, friends, or online resources if you're struggling with a topic. Clarifying doubts promptly ensures smooth progression in your studies.

Common Mistakes in Accountancy Exam Class 12

Helpline

Examination Guidance for 12th Commerce

11. Staying Positive and Confident

Maintain a positive mindset and stay confident in your abilities. Avoid unnecessary stress and keep reminding yourself of your goals and the hard work you’ve put in.

12. Time Management During Exams

Develop a strategy for managing time during the exam. Allocate specific time for each section and stick to it. Ensure you have time for a final review of your answers. Howsoever well you have prepared, last minute glance on main points is must.

Refreshing During Study Time is Necessity

13. Relaxation and Breaks

Incorporate relaxation techniques like deep breathing, meditation, or short walks into your routine. Regular breaks help refresh your mind and maintain productivity.

14. Effective Use of Technology

Use educational apps, online tutorials, and e-books to supplement your studies. Technology can provide interactive learning experiences and additional practice resources. Make the best use of such Self-Learning Activities in Accountancy Class 12

By following this comprehensive checklist, you can systematically prepare for your board exams and aim for a score of 95% and above. Stay focused, stay disciplined, and success will be yours.

12 Tips to Attempt Accountancy Exam.

Additional Important Links for immediate study for Board Exam. In Accountancy-2025

1. Important legal provisions
2. Nature of Accounts Class 12
3. Class 12 Accountancy MCQs Partnership Basic Concepts
4. Class 12 Accountancy MCQs Valuation of Goodwill
5. Class 12 Accountancy MCQs Reconstitution of Partnership Firm
6. Class 12 Accountancy MCQs Admission of Partner
7. Class 12 Accountancy MCQs Retirement of Partner
8. Class 12 Accountancy MCQs Death of Partner
9. Class 12 Accountancy MCQs Dissolution of Partnership Firm
10. Class 12 Accountancy MCQs Share Capital
11. Class 12 Accountancy MCQs Debentures
12. Class 12 Accountancy MCQs Financial Statements Analysis
13. Class 12 Accountancy MCQs Comparative Statements
14. Class 12 Accountancy MCQs Ratio Analysis
15. Class 12 Accountancy MCQs Cash Flow Statement
16. MCQs on Partnership Accounting Class 12
17. MCQs on Company Accounts Class 12
18. MCQs on Analysis of Financial Statements
19. 7 Tips to Attempt MCQs
20. What are Competency Based Questions in Accountancy?
21. Effect of Transaction on Ratio
22. Revaluation Account
23. Dissolution Entries in Exam.
24. Competency based questions
25. 10 Tips for 100% Success in Board Exams
26. How to score full marks in Accountancy
27. MCQs based revision tests.

The post Topper’s Checklist to Excel in Board Exams. appeared first on Commerceatease - Website for 11th & 12th Commerce.

Though the board expects all students to prepare thoroughly and may put question from any corner of the syllabus, still some topics are in the ‘must’ list. These topics should be prepared thoroughly by all the students on priority basis, especially those who find it difficult to cope up with full syllabus.

In addition, calculations, concentrated reading of the question paper and proper presentation are required which cannot be overlooked.

Part -A

Fundamentals of Partnership

• Partnership Deed - Theory as well as in numerical type questions.
• Interest on Drawings - Rule, Calculation (all methods) and Treatment (Journal Entries).
• Interest on Capital - Rule, Calculation (Simple and Product methods) and Treatment (Journal Entries).
• Profit and loss Appropriation Account with all items.
• Past Adjustments (single and multiple errors).

Goodwill

• Meaning
• Factors generating goodwill
• Circumstances under which Goodwill is valued
• All methods of valuation of Goodwill

Change in Profit Sharing Ratio

• Sacrifice Ratio - Meaning
• Gaining Ratio - Meaning
• Calculation of Sacrifice and Gain
• Basic adjustment on Change in Profit Sharing Ratio

Admission of Partner

• New Profit-Sharing Ratio
• Treatment of Goodwill
• Revaluation of Assets/Liabilities
• Treatment of Reserves/ Accumulated Profits and Losses

Retirement and Death of Partner

• New Profit-Sharing Ratio
• Treatment of Goodwill
• Revaluation of Assets/Liabilities
• Treatment of Reserves/ Accumulated Profits and Losses
• Deceased Partner’s Capital Account and Executor Account

Dissolution of Partnership Firm

• Difference between Dissolution of Partnership and Dissolution of (partnership) Firm
• Preparation of Realization Account, Partners’ Capital Accounts and Bank Account
• Journal entries on Dissolution

Accounting for Share Capital

• Concepts of Share Capital
• Journal Entries - Simple cases
• Issue of Shares for Consideration other than cash (The most dependable).
• Showing Share Capital in Balance Sheet (Dependable with thorough understanding).

Accounting for Debentures

• Issue of Debentures consideration other than cash.
• Issue of Debentures with terms of issue and redemption.

Minimum Level Learning - Accountancy 

Part-B

Financial Statement of a Company and Analysis  

• Format of Balance-sheet with relevant legal provision
• Main heads and sub-heads of items of a Balance-sheet (Revise all previous years’ items first).
• Meaning of Operating Cycle, Current Asset, Current Liability
• Parties interested

Financial Analysis

• Meaning
• Types
• Tools
• Parties interested

Comparative and Common size Statements

• Preparation of Comparative Income Statement and Balance Sheet
• Preparation of Common-size Income Statement and Balance Sheet

Accounting Ratios

• Formula and significance of all ratios especially Current Ratio, Quick Ratio, Inventory Turnover Ratio, Gross Profit Ratio, Operating Ratio, Debt Equity Ratio, ROI.
• Effect of transaction on the ratios (especially above-mentioned ratios).
• Limitations of Ratio Analysis

Cash Flow Statement

• Meaning – detailed (with cash and cash equivalents)
• Meaning and identification of Operating, Investing and Financing Activities
• Transactions resulting in Cash Inflow/ Outflow or No flow.
• Simple Cash Flow Questions (Complete)

Project Work

• Prepare your Project file the best and original. Revise it thoroughly.
• Accounting year should be March 31, 2024 means data should be of 2022-23 and 2023-24.
• Prepare for Viva

Note: Some topics have been linked here to give you the summaries to save your time and effort.

How To Score 90 Percent in Board Exams?

Minimum Learning Topics in Business Studies

The post Minimum Level Learning – Accountancy 12 appeared first on Commerceatease - Website for 11th & 12th Commerce.

Meaning of Competency based questions

Competency-based questions are designed to assess specific skills, abilities, and behaviors that are key to success in a given job or role.

So, instead of focusing on what you would do in a hypothetical situation, there’s a question asking you to explain how you would respond in a given situation. Your skills required in real life would be judged like: leadership, teamwork, problem-solving, communication etc.

You can expect Competency-based questions in Accountancy focusing on the following:

• Analytical Skills
• Attention to Detail
• Ethical Judgment
• Communication Skills
• Simplification of financial data.
• Problem-Solving
• Resolving a financial issue successfully

Let’s see what type of questions you can have and the level of your preparation required as by circular, https://cbseacademic.nic.in/web_material/Circulars/2024/30_Circular_2024.pdf

issued by the CBSE, 50% questions in the Question Paper will be Competency Focused Questions in the form of MCQs/ Case Based Questions, Source-based Integrated Questions or any other type.

Instead of superficial knowledge of the terms, accounts and statements, Indepth knowledge of the concepts, rules and principles of Accountancy will be assessed.

So, it is not enough to just cram the items of Profit and Loss Appropriation Account, Revaluation Account, Comparative Statements or Cash Flow Statement only, to even pass the exam.

Thorough knowledge with your focus and attention coupled with practice and analytical skills is required to get through the Board Exam. With good score. Only ‘Last month’ study will not do any good for you.

Board has already uploaded its Sample Papers about six months in advance.

You can access these Sample Papers with their Marking Schemes easily.

Case-based questions have also been given to you for proper guidance.

Just a few questions are given here for your concern to have an idea, how these Competency Based Questions can be asked:

Question 1

Pritam, Manager of the firm drawing a remuneration of ₹30,000 per annum was admitted as partner w.e.f. 1st April 2024. However, he’ll keep on performing his duties as manager also. The remuneration should be debited to:

a) Profit & Loss Appropriation Account

b) Profit & Loss Account

c) Jetha's Capital Account

d) Jetha's Current Account

Answer

a) Profit & Loss Appropriation Account

Question 2

Indu and Bindu were partners in a firm sharing profits equally. Bindu retired and the amount due to her was determined as ₹80,000. After determining the amount payable to Bindu, it was noticed that Advertisement Suspense A/c ₹10,000 existing in the Balance Sheet was not considered. Will it be fine if Bindu is paid ₹70,000 now, after adjusting the Advertisement Suspense A/c?

Answer

No, Bindu should be paid ₹75,000 (₹80,000 - ₹5,000). Indu will also have to share the accumulated loss, in their Old Profit-Sharing Ratio.

Question 3

Manish, Rakesh and Rajesh are partners in a firm. Manish, has an adult son Danish who has recently graduated from a reputed college. He wants to admit Danish with capital ₹4,00,000 for an equal share in future profits and losses. Rakesh agrees but Rajesh has an objection to the conditions. Manish is adamant on admitting Danish as there is majority favouring this admission. You are required to resolve this issue.

Answer

If Rajesh does not agree, Danish cannot be admitted as the consent of all partners is required for new partner’s admission.

Important Legal Provisions In Accountancy Class 12

Question 4

On admission of Reena as a partner, capital of Meena and Teena after all adjustments were ₹4,00,000 and ₹3,00,000 respectively. Their capitals before admission of Reena were ₹4,50,000 and ₹2,80,000. Surplus in Capital Accounts was adjusted through her Current Account by passing a journal entry. Journal entry passed will be:

a) Meena's Capital A/c ₹50,000; Cr. Teena's Current A/c ₹50,000

b) Teena's Capital A/c ₹80,000; Cr. Teena's Current A/c₹ 80,000

c) Meena's Capital A/c ₹50,000; Cr. Meena's Current A/c ₹50,000

d) Teena's Current A/c ₹80,000; Cr. Teena's Capital A/c ₹80,000

Answer

c) Dr. Meena's Capital A/c ₹50,000; Cr. Meena's Current A/c ₹50,000

Question 5

Assertion (A): Unrecorded outstanding repair bill at time of death of partner is recorded on debit side of Revaluation a/c.

Reason (R): Increase in capital of partner is recorded on credit side of Capital account.

a) Assertion is correct, reason is incorrect.

b) Assertion is incorrect, reason is correct

c) Both Assertion and reason are correct and reason is correct explanation of Assertion.

d) Assertion and reason both are correct but reason is not the correct explanation of Assertion.

Answer

d) Assertion and reason both are correct but reason is not the correct explanation of Assertion.

Question 6

A Company’s liquid assets are ₹4,00,000 and its current liabilities are ₹2,00,000. Thereafter, it paid ₹1,00,000 to its trade payables. Quick ratio will be:

a) 33:1

b) 5:1

c) 67:1

d) 3:1

Answer

d) 3:1

Question 7

PKB Ltd. issued 20,000, 9% Debentures of ₹100 each at certain rate of premium to be redeemed at 10% premium. Loss on Issue of Debentures was written off from Statement of Profit & Loss debiting it by ₹80,000. Premium at which debentures were issued is:

a) 5%.

b) 6%

c) 8%

d) 10%

Answer

b) 6%

Question 8

Name Extra-ordinary Item each for (a) Operating Activity; (b) Investing Activity; and (c) Financing Activity.

Answer:

Operating Activity:

Preliminary Expenses/Voluntary Retirement Benefit Paid/Insurance Claim for Goods lost in fire.

Investing Activity:

Subsidy for Purchase of Machinery, Insurance Claim for loss of Fixed Asset in earthquake.

Financing Activity:

Buy back of Own Shares and Securities.

How To Score 90 Percent in Board Exams?

MCQs in Accountancy Classes 11 and 12

The post What are Competency Based Questions in Accountancy? appeared first on Commerceatease - Website for 11th & 12th Commerce.

Commerceatease at a Glance

Commerceatease at a Glance

Dear Website visitors,

The purpose of this website is to facilitate the students, teachers and other visitors.

A large number of Learning Games & Activities and Quizzes are there and more and more are added from time to time.

You may use Laptop/Desktop/Tab for your best experience and satisfaction. 

Accountancy Class 11

General Guidance for 11th Class Accountancy

In this category you'll find all articles for preparing Accountancy of Class 11 which are not related to any particular unit.

Then articles on all units of syllabus are there along with interactive Self-learning activities.

Business Studies Class 11

• General Guidance for Class 11th Business Studies
• All units of syllabus.

Marketing Class 11

• Marketing Syllabus and Activities Class 11

Find complete notes.

Accountancy Class 12

• General Guidance for Class 12th Accountancy
• All units of syllabus.
• Project Work

Business Studies Class 12

• General Guidance for Class 12th Business Studies
• All units of syllabus.
• Project Work

Marketing Class 12

• Marketing Syllabus and Activities Class 12

Find complete notes.

General Guidance

Helpline

Helpline has a large number of questions in the minds of students, answered in brief here only.

For Aspirants

Here you find the guidance for students who wish to take Commerce subjects.

Examination Guidance

This corner is fully devoted to help students prepare for Class 12 Board Exams. and get them their best performance.

Career Guidance

It has basic articles regarding the choice of Commerce as a career.

For Teachers

Here teachers can find some technical and teaching tips to make their work easy and effective.

Skill Subjects

Here the notes of various Skill Subjects (that Commerce students can relate with easily) are given:

Financial Literacy for classes 6, 7 and 8

Marketing of classes 6, 7 and 8

Marketing and Sales of Classes 9 and 10

Find More...as the name suggests, deal with the following:

Quizzes

Quizzes on subjects.

Guest Corner

Guest articles.

Life Skills

Articles for a better life

Latest News

Fun Time

Student Section

NOTE: If you are not able to find any topic under the category you selected, You can make the use of ‘Search Option’.

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Whenever Board result is announced, many a students get depressed on getting the score which is below their expectations. It might be within their expectations but below the expectations of their parents and teachers. This further aggravates their problem.

Why some students don't score high in Board Exams:

Let’s try to find out the various reasons why some students don't score high in Board Exams. Some common reasons include:

Lack of motivation:

Students may not see the immediate relevance or importance of their studies, which can lead to a lack of motivation.

Distractions:

Modern technology and social media can be major distractions, diverting students' attention from their studies.

Stress and anxiety:

High levels of stress or anxiety can hinder a student's ability to focus and concentrate on their studies.

Poor time management:

Ineffective time management can lead to procrastination, wastage of time and poor study habits.

Personal issues:

Students may have personal problems or issues that affect their ability to focus on their studies.

Teaching methods:

In some cases, teaching methods or the classroom environment may not be engaging or effective for certain students.

Lack of effective study techniques:

Many students may not have developed effective study techniques, which can affect their ability to retain and apply knowledge effectively.

Mental Health Issues:

The stress of exams can lead to mental health issues like anxiety and depression.

Peer Pressure:

Peer pressure can influence the study habits and priorities and sometimes diverting students from their study goals.

Pressure from parents:

There’s often a significant pressure from parents and society to excel academically, which can be overwhelming.

Solutions - To Score High in Exams.

Addressing these issues often requires a multi-faceted approach i.e. combination of support from teachers, parents, and students themselves. Identifying the specific reasons for a student's lack of effort is most important in providing appropriate solutions and support.

Following solutions can be effective in dealing with the above-mentioned problems:

Set clear goals:

Students must set their long-term goal in life and short-term goals in studies like what they have to achieve in life, what they would do and what they should be doing now. Then focus on syllabus for exams. They must set the sub-goals.

Inspiration:

They must draw their inspiration for studies from persons who have great success stories and who have overcome similar challenges. If they have done so, so can you, students.

Distractions:

Promote a dedicated study environment free from distractions. Set aside time for studies as well as social interactions. Use mindfulness techniques to improve focus. Learn simple techniques to learn mindfulness.

Stress and Anxiety:

Use stress-relief practices into your study schedule, like meditation or yoga. It can be a simple walk to the plants or pet. Discuss your problems with your close ones.

Poor Time Management:

Learn and use time management skills through various online videos and articles. Create schedules and set priorities. Keep awareness of your time used on different activities, to find out the wasteful activities. Eliminate such wasteful activities from your schedule. Pomodoro Technique is the best solution in such cases.

Lack of Effective Study Techniques:

Learn study skills for particular subjects. Discuss peer-to-peer sharing of effective study strategies. Use good educational apps and online resources.

Peer Pressure:

Be aware of the impact of peer pressure. Don’t be trapped in negative peer influences. Accept the individual differences and respect the culture of acceptance and diversity. Every student has his own set of personality and circumstances. Make the best of everything in hand.

Pressure from Parents:

Parents should be aware about realistic academic expectations. They should not put undue pressure on their children. Students can do wonders with their support instead of negative pressure from parents. Understand the importance of balanced approach to education and well-being.

Pressure from Society:

Instead of bending yourself, challenge societal norms that place excessive pressure on your wellbeing and identity. Do your best and ignore the rest. Engage yourself in extracurricular activities and work for your holistic development.

Pursue your passions and interests:

When you would devote your attention and time to what matters to you, it would ultimately divert you from negative suckers of your energy and time.

Do your best that you can. Use best strategies of studies. Use best resources. Self-study is the ultimate solution. Take responsibility for your success.

Try to understand, No one can make you learn if you are not willing to learn and no one can stop you if you are willing to learn.

Is Class 12 Board Result Important?

The BEST WAY to PREPARE for BOARD EXAMS.

The post What Prevents Students From Scoring High in Board Exams? appeared first on Commerceatease - Website for 11th & 12th Commerce.

To score high in Board Exams, Students must make necessary changes in their routine habits so that they can make the best of their efforts.

Effective study habits can significantly improve students' scores. Here are:

15 Changes to Study Effectively for Board Exams

1. Set Clear Goals:

Define what you want to achieve in each study session or for a specific exam. It can be a unit of syllabus, a chapter, a topic or a sub-topic.

     2. Create a Study Schedule:

Establish a routine that allocates time for each subject or topic. Spare that much time daily leaving less important tasks in hand. Consistency is key.

     3. Active Learning:

Engage with the material actively. Take notes, ask questions, create mind maps, cartoons, create mnemonics to aid grasping and retention.

    4. Use Multiple Resources:

Don't rely on a single textbook or source. Utilize various resources for difficult topics like videos, online articles, and practice exams.

    5. Breaks and Rewards:

Take short breaks during study sessions and reward yourself for achieving milestones. It can be stationery article like a new pen, colourful notepad, a chocolate, a plant or anything else you like.

    6. Organize Your Space:

Ensure your study area is clutter-free and well-organized to minimize distractions. But, all your necessary books, notes and stationery should be easily approachable.

     7. Practice Problems:

For Accountancy and Economics subjects, solving problems is crucial for understanding. After solving problems of your main books, try solving problems from other reference books and test papers.

     8. Teach Others:

Explaining concepts to someone else can help reinforce your understanding. If you cannot discuss with others, self-talk will do the wonders. Just imagine you are teaching another student.

     9. Test Yourself:

Use practice tests and quizzes to assess your knowledge and identify weak areas. There are various self-test learning activities available to you for this purpose.

     10. Healthy Lifestyle:

Prioritize sleep, exercise, and a balanced diet to keep your mind and body in good position and alert.

15 Changes to Study Effectively for Board Exams

     11. Minimize Distractions:

Turn off notifications, put away your phone, and block distracting websites during study time. Reserve a small duration daily for necessary social contacts but avoid wasteful gossips and scrolling.

     12. Seek Help:

Don't hesitate to ask teachers or tutors for clarification if you're struggling with a topic. You can approach online resources for the same.

     13. Review Regularly:

Periodically revisit older study material and topics to reinforce your memory. Instead of reading and learning a topic at a stretch, it would be better to revise such topic after a gap and do it again for long lasting memory of the same.

     14. Mindfulness and Relaxation:

Techniques like meditation can help reduce stress and improve focus. The meditation should not be considered for spiritual purposes only. It also need not be in very complicated manner. Just focusing on the breathes for even five minutes will aid you to concentrate.

     15. Stay Positive:

Maintain a positive mindset and believe in your ability to succeed. If you are doing your best, have faith in your efforts and expect the best outcome.

Remember that everyone's learning style is unique. Adapt these tips to fit your personal preferences and needs. Though you would not like to make all these changes at once, but following some of these many suggestions would definitely help you.

What Prevents Students From Scoring High in Board Exams?

The Power of Self-Study: Your Key to Success in Board Exams

The post 15 Changes to Study Effectively for Board Exams appeared first on Commerceatease - Website for 11th & 12th Commerce.

Why to Study from NCERT Books for Board Exams.

Students must study from NCERT (National Council of Educational Research and Training) books for board exams due to the following reasons:

Syllabus Alignment:

NCERT books are designed to closely align with the official syllabus prescribed by the respective educational boards. This ensures that students are able to cover all the essential topics and concepts required for their exams.

Fundamental Concepts:

NCERT books focus on building a strong foundation in various subjects. They emphasize fundamental concepts, which are crucial not only for board exams but also for future academic pursuits.

Previous Year Questions:

Many questions in board exams are directly or indirectly based on NCERT content. Studying from these books increases the chances of encountering familiar questions during exams.

Supremacy in Marking Scheme:

The marking scheme for checking Answer Sheets for Board Exams, is also based on the way the concepts have been explained in NCERT books. In case of any controversial point, the Supremacy of NCERT books prevails.

Recommended by CBSE:

CBSE in its curriculum recommends NCERT books only, giving these books the weightage of recognition. Students can use other books as reference books however.

Case Study based Questions:

Generally, the NCERT illustrations and sentences are used as it is, in framing case study-based questions in Board Question Papers. So, the students must learn the things thoroughly from NCERT books. They should also learn the headings perfectly.

Expectation of Paper Checkers:

As the marking scheme is prepared on the basis of NCERT books, the paper checkers also follow the same. Moreover, the checkers are reluctant to deviate from the given marking scheme and find it time taking and irritating to think instantly about close relevant answers. There can be some other reasons too.

Freely Downloadable:

NCERT books are the most cost-effective books that you can buy in market as far as hard copy is concerned. Soft copy, however, is freely downloadable from NCERT website.

Above all, for your long-term benefit:

Preparation for Competitive Exams

Very recently, an IAS officer has given a statement that he has read NCERT books forty times and cleared UPSC Exam.

For aspirants of competitive exams like IIT-JEE, NEET, UPSC, and others, NCERT books are a goldmine. These exams often include questions directly sourced from NCERT content.

The detailed explanations and comprehensive coverage of topics in NCERT books make them an indispensable resource for cracking these exams. Moreover, the emphasis on conceptual clarity helps in tackling complex problems with ease.

While NCERT books are the core, students can supplement their studies with additional reference materials for in-depth understanding and practice.

NCERT books can become your good friends within a few days.

Once you read NCERT book, you can attempt all the endless questions framed from the concerned chapter including case studies.

So, the students should put their full attention to the preparation of subject from NCERT books. Even if a student is not able to understand the wording of the question in actual exam, he is able to score marks above 90% if he has prepared from NCERT books.

How to Study Business Studies from NCERT Books?

What Prevents Students From Scoring High in Board Exams?

15 Changes to Study Effectively for Board Exams

The post Why to Study from NCERT Books for Board Exams. appeared first on Commerceatease - Website for 11th & 12th Commerce.

Dear Students,

As you embark on your academic journey towards the board exams, it's crucial to understand the significance of self-study in achieving success. While classroom learning and coaching are valuable, the real magic happens when you take control of your own learning. Here's why self-study is your ultimate tool for acing those board exams.

Tailored Learning:

Self-study allows you to customize your learning experience. You can focus more on subjects or topics you find challenging. This personalized approach ensures efficient use of your time and energy.

Independence and Responsibility:

Board exams are a steppingstone to your future. Self-study fosters independence and responsibility, qualities that will serve you well in college and beyond. It's a taste of the self-discipline required in adult life.

Deeper Understanding:

When you study on your own, you're forced to understand concepts rather than memorize them. This deep understanding not only helps you score well in exams but also prepares you for higher education and real-world problem-solving.

Time Management:

Self-study forces you to manage your time effectively. Learning to allocate your study hours wisely is a skill that will benefit you throughout your life.

Confidence Boost:

There's an incredible sense of accomplishment when you grasp a difficult concept through self-study. This boosts your confidence and belief in your own abilities.

Ownership of Learning:

When you self-study, you own your education. You become the captain of your academic ship, steering it towards success. This sense of ownership is empowering.

Continuous Improvement:

Self-study encourages continuous improvement. You can regularly assess your progress and adjust your study methods accordingly. This adaptability is a key trait of successful individuals.

Reduced Stress:

Knowing that you've put in the effort through self-study can significantly reduce exam stress. You'll approach the exams with a sense of confidence, knowing you've done your best.

Long-term Benefits:

The skills you acquire through self-study, such as critical thinking, problem-solving, and research, are lifelong assets that extend far beyond your board exams.

Inspiration for Others:

Your dedication to self-study can inspire your peers and even future generations to take control of their education and strive for excellence.

Remember, self-study is not about isolating yourself. Seek guidance when needed, clarify doubts with teachers, and collaborate with peers. But at the heart of it all, let self-study be your driving force towards success in your board exams. Embrace it and watch how it transforms not only your academic life but your entire journey towards a bright future.

Believe in yourself, stay focused, and keep studying. Self-study is your trusted companion for success.

What Prevents Students From Scoring High in Board Exams?

Important Tips For Board Exams.

15 Changes to Study Effectively for Board Exams

The post The Power of Self-Study: Your Key to Success in Board Exams appeared first on Commerceatease - Website for 11th & 12th Commerce.