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ISC Class 12 Accountancy Question Paper 2016

Q: 1. How Can I Study for ISC Class 12 Accountancy?

Our subject experts suggest the following tips.Know the basics of ledger posting, debit, and credit balances.Remember the definitions of terms like assets, debts, liabilities, profit, and loss, etc.Make flashcards of these definitions and read them at regular intervals.Be consistent throughout your preparation.

Q: 2. How Can I Achieve a 95+ Score in the Accountancy Exam?

Make consistent studying your Mantra!Practice all the numerical type questions on every topic covered in your syllabus. Go through our stepwise strategy to score 95+ in the accountancy exam on our website. Revise all the concepts with our study materials. Practice the sample papers available on our website.

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ISC Class 12 Accountancy Question Paper 2016

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Class 12 Accountancy ISC Question Paper 2016 - Free PDF Download

Vedantu is a leading educational organization that aims to provide ISC study material for Class 12 Accountancy. Along with the important notes, students can avail of previous years’ board papers for the class 12 Accountancy examination. Previous years’ papers solved by our experts will work as a gold mine for the students revising for the board exam. These solutions prepared by our experts can be relied upon by students for effective guidance in Accountancy. Students can access other important study materials available on Vedantu for their exam preparation.

Lessons in Class 12 Accountancy ISC

Here is a list of lessons from which questions will be asked in the question paper.

Chapter - 1: Accounting for partnership firms fundamentals
Chapter- 2: Goodwill Nature And Valuation
Chapter -3: Reconstitution of Partnership
Chapter - 4: Admission of A Partner
Chapter - 5: Retirement or Death of a partner
Chapter - 6: Dissolution Of a Partnership Firm
Chapter - 7: Accounting For Share Capital
Chapter - 8: Accounting For Debentures
Chapter - 9: Company Accounts – Redemption of Debentures
Chapter - 10: Financial Statements Of A Company
Chapter - 11: Financial statement analysis
Chapter - 12: Tools for financial statement analysis
Chapter - 13: Accounting Ratios
Chapter - 14: Cash flow statement

The best part of visiting Vedantu is, students can access the ISC class 12 Accountancy question paper 2016 and all the other sets of previous years’ papers and important revision notes, in the PDF format for free. The add-on advantage is that these solutions are concise and easy to understand. You can access these study materials 24x7, and you can download the PDF file of solved papers from the link provided on this page and our mobile application.

Analysis of the Accountancy Exam 2016 by Vedantu

We are pleased to share the analysis of the Accountancy Paper 2016 done by our subject experts, to help all students understand the answer patterns and prepare in a comprehensive way for the examination. The class 12 ISC (abbreviated as Indian School Certificate) Accountancy examination of 2016 had a bit tricky and lengthy question paper.

The full mark for ISC Accountancy Paper-I (theory) was 80 and the exam duration was 3 hours. It had two sections, namely, Section A and B/C.
Section A consists of two parts, Part 1 and Part 2.
Part 1 carries 12 marks in which all questions were compulsory.
Part 2 carries 48 marks in which any four questions were to be attempted.
Section B/C was of 20 marks in which any two questions were to be attempted.
Paper-2 was a project work of 20 marks.

How is Vedantu a Goldmine for Accountancy Exam Preparation?

Vedantu provides the ISC free content course and study material for class 12 accountancy in the form of PDF files, test papers, mock tests, and live classes.

The topics covered in the study materials provided by our subject experts are as follows.

Partnership Accounts

Fundamentals of Partnership
Goodwill
Reconstitution of Partnership

2. Joint Stock Company Accounts

Issue of Shares
Issue of Debentures
Redemption of Debentures
Final Accounts of Companies

3. Financial Statement Analysis, Cash Flow Statement

(Only for Non-Financing Companies)

4. Ratio Analysis

Liquidity Ratios
Solvency Ratios
Activity Ratios
Profitability Ratios

5. Accounting application of the electronic spreadsheet, Database Management System (DBMS).

Tips to Get Full Marks in the ISC Accountancy Examination

As you know that during the ISC accountancy examination, you will be given 15 minutes for reading the question paper. However, there are some other things that should be taken into consideration.

The following tips suggested by our experienced Accountancy faculty can flip the whole scenario of your exam.

Let’s go through the last minutes’ tips for the Class 12 accountancy examination.

Analyze the marking scheme of the question paper.
Attempt those questions for which you’re certain.
Read the questions thoroughly to contemplate what points are expected in your answer.
Write legibly and present answers neatly.
Write answers in the same chronological manner as given for the questions and mention the question and answer number.
Do not copy the balance sheet with the wrong amount if the amount isn’t equivalent.
If you are not certain of any answer, you can skip and move on to the next one and attempt it later.
Use a pencil while preparing a ledger, balance sheet, or any other statements.
In accounting writing Dr. and Cr. are mandatory for debit and credit amounts. Don’t forget to mention the Date, Indian Rupee symbol, any particulars, and amount.

Why Choose Vedantu for PYQP?

Preparing for a crucial exam like Accountancy requires a lot of practice and patience. With the limited time for board exams, solving such a tricky and lengthy paper becomes difficult when concepts are not at fingertips and the clock is ticking. But don’t you worry about that! Your milestone is ours now. Preparing you in the right way so that you can score well in the exam is the purpose of Vedantu.

For your convenience, we have provided you the link for downloading the Solved ISC Accountancy Papers of all the sets for the years 2008-2016. All you need to do is, click on the links provided on this page and go through the solved questions.

Now, kickstart your preparation with the study materials prepared by our subject experts. Start practicing the solved board question papers, brush up all your concepts, plan on the time-management, to gain confidence over your preparation. You can also sign up for our online classes and get better assistance for all your doubts.

FAQs on ISC Class 12 Accountancy Question Paper 2016

1. How Can I Study for ISC Class 12 Accountancy?

Our subject experts suggest the following tips.

Know the basics of ledger posting, debit, and credit balances.
Remember the definitions of terms like assets, debts, liabilities, profit, and loss, etc.
Make flashcards of these definitions and read them at regular intervals.
Be consistent throughout your preparation.

2. How Can I Achieve a 95+ Score in the Accountancy Exam?

Make consistent studying your Mantra!

Practice all the numerical type questions on every topic covered in your syllabus.
Go through our stepwise strategy to score 95+ in the accountancy exam on our website.
Revise all the concepts with our study materials.
Practice the sample papers available on our website.

3. Is the NCERT Helpful for the ISC Accountancy Class 12 Exam?

Yes, definitely, NCERT books are very helpful in scoring a good percentage in the ISC accountancy class 12 exam.

4. How Vedantu Helps in the ISC Class 12 Accountancy Exam Preparation?

To prepare for your Class 12 Accountancy exam, you can refer to Vedantu. We at Vedantu, provide free study materials, sample papers for practice, free tutorials to clear all your doubts from our faculties in our live classes. All you need to do is, stay connected with us for the best study materials and test papers for your exam preparation.

5. What is goodwill and accounting for goodwill as discussed in ISC Class 12 Accountancy?

Goodwill is an inexhaustible resource associated with the purchase of one company by another. Altruism is measured in situations when the price tag is more than the sum of the reasonable estimates of all visible strong resources and impalpable resources. These assets are purchased at the same time that the obligations are accepted. The value placed on an organization's brand name, strong customer base, excellent client relations, excellent representation relations, and any licensing or restrictions on innovation all speak to altruism in some way.

When a company takes over another company, it develops goodwill as well. The true value of the resources can be discerned, and the obligations are also carried over as a result of transactions.

6. Following the concepts of ISC Class 12 Accountancy, what is partnership and partnership deed?

A partnership is a type of business in which at least two people come to an agreement and agree to be co-owners. They divide the responsibilities of running a company and distribute the profits or losses that the company generates. This form of affiliation is documented in a report called organization deeds. A partnership deed is an agreement and understanding between the partners in a business that specifies the terms and conditions of the partnership. The purpose of an association deed is to delegate each accomplice's tasks in order to ensure that the firm's operations run smoothly.

7. What is bookkeeping and how has it evolved with time according to the concepts of ISC Class 12 Accountancy?

Traditionally, bookkeeping has been limited to financial bookkeeping by the bookkeeper. However, as the economy has altered, bookkeepers have gained the ability to function in excellent starting development domains. Online commerce, monetary planning, ecological bookkeeping, scientific bookkeeping, PC hacking, and so on are all examples. In today's world, a bookkeeper's job has evolved from that of an endorser of trades to that of a delegate who provides timely information to a dynamic group. To gain more information and in-depth knowledge about this, you can visit ISC Class 12 Accountancy Question Paper 2016.

8. How to prepare for ISC Class 12 Accountancy?

Students should learn the basic concepts to prepare for ISC Class 12 accountancy. It is important for the students to be thorough with the basic concepts to do well in ISC Class 12 accountancy. Students should be well versed with concepts like partnership, goodwill, share capital, debentures, dissolution of a partnership firm, company, cash flow statement, financial statement analysis, accounting ratio, etc. Students should also sample papers of ISC Class 12 accountancy. Students should go to the Vedantu app and website for free study materials.