NCERT Solutions Class 12 Accountancy

NCERT Solutions for Class 12 Accountancy Part-1

The NCERT accountancy textbooks cover the entire CBSE-approved syllabus for 12th grade board exams. To separate the relevant topics and concepts, the curriculum has been divided into two halves. Thus, the NCERT books for class 12 accountancy are divided into two parts.

Part 1 of the NCERT accounting book covers Partnership accounts, while Part 2 covers Company Accounts and Financial Statement Analysis. Each section of the curriculum has been meticulously detailed in order to assist students in achieving the highest possible marks on board exams. The NCERT Solutions for Class 12 Accountancy Volume 1 include a variety of illustrative examples to assist students in quickly comprehending and learning.

NCERT Class 12 Accountancy Part I Chapter-wise Solutions

The syllabus focuses on improving fundamental understanding of the nature and purpose of accounting information, as well as its application in business operations. This improves students’ logical reasoning, analytical skills, and judgmental abilities. Students can download the chapter-wise NCERT Solutions for Class 12 Accountancy part 1 as given below.

NCERT Solutions For Class 12 Accountancy to Download

NCERT Solutions are regarded as an extremely useful resource for exam preparation. The solutions prepared by Extramarks are written by subject experts and are guaranteed to help students achieve high grades. The questions in NCERT Books are prepared in accordance with CBSE, and thus have a higher chance of appearing on CBSE question papers. These NCERT Solutions for Class 12 Accountancy not only strengthen students’ foundation in the subject, but also give them the ability to easily tackle different types of questions.

NCERT Solutions of Class 12 Accountancy

Extramarks’ NCERT class 12 accountancy part 1 solutions is highly beneficial when it comes to practical questions. Students can use these textbook solutions for exams as well as for their daily homework. The  solutions are simple to understand, and each step in the solution is described to correspond to the students’ understanding.

CBSE Class 12 Accountancy Solutions Weightage Marks

In the final examinations, NCERT Class 12 Accountancy Part 1 and 2 Solutions carry a total of 100 marks.

The topics included in 12th Accountancy NCERT Solutions for Part 1 are as follows:

This unit covers the fundamentals of partnership, such as business transactions and accounting.

  • Accounting for Non-Profit Organisation
  • Accounting for Partnership Firms: Basic Concepts
  • Reconstruction of a Partnership Firm: Admission of a Partner
  • Reconstruction of a Partnership Firm: Retirement or Death of a Partner
  • Dissolution of Partnership Firm

Part 2 of the NCERT Solutions for Class 12th Accounts covers the following topics:

This unit covers the basics of financial statements and how to read them. It delves into topics such as what a statement means to a company, its goals, and analysis.

  • Accounting for Share Capital
  • Issue and Redemption of Debentures
  • Financial Statements of a Company
  • Analysis of Financial Statements
  • Accounting Ratios
  • Cash Flow

Preparation Tips

  • The study should be planned in accordance with the CBSE syllabus and NCERT Books
  • After you’ve grasped the concept, find the logic behind the definitions so that you can write it down as clearly as possible rather than rote learning
  • Students should concentrate on the features, benefits, and drawbacks of various concept topics because these questions appear frequently on Board exams
  • Students should gain a thorough understanding of how a formula works, as memorising formulas will result in incomplete learning
  • Create your own chapter-by-chapter notes. Preparing a chapter-by-chapter formula sheet and revising it on a regular basis is the best way to remember formulas
  • Prepare neat and clean working notes for the calculations that will be entered into journals as well as accounts
  • When creating formats for journals, ledgers, and balance sheets, students should pay close attention. Practice drawing formats to help students’ complete solutions faster and finish papers on time
  • Mark the concepts that you don’t understand. Refer to the NCERT solutions for class 12 accountancy volume 1 to clear your doubts
  • Create a plan for revision. Divide your time between all of the chapters and begin working on the questions that you found difficult to answer while practising
  • Begin by solving old exam papers while keeping the time in mind. Set the clock to the exam time and try to solve as much as possible within the time limit to get exam practice. This will aid in better exam time management
  • Sample papers can be extremely useful in determining your current level of proficiency
  • When doing calculations, use extreme caution to avoid making silly mistakes

Benefits of NCERT Solutions for Class 12 Commerce Accounts

  • The chapters in the solutions are organised in the same order as they are in the textbook, making it easy for students to refer to the solutions when they have questions
  • All of the answers are written in a clear and simple manner, making the concepts very easy to understand
  • NCERT solutions for class 12 accountancy part 1 have been written by highly qualified teachers, which makes them highly reliable
  • Students will need no additional materials to use these solutions as they strictly adhere to the NCERT guidelines
  • These solutions also include worked-out numerical problems and real-life situations. These are extremely important in terms of the exam. Make sure you go through them from beginning to end so that the concepts are crystal clear
  • NCERT solutions for class 12 accountancy volume 1 are extremely simple to use. Students can download the solutions available at Extramarks and practice them offline. In a nutshell, you can get to everything quickly and easily
  • The solutions are entirely free of charge
  • These answers will create a strong foundational understanding of the subject matter, which helps to pave the way for future studies
FAQs (Frequently Asked Questions)
1. Why is NCERT the most popular preparation resource for board exams?

The CBSE board exam syllabus is completely covered in the NCERT books. Every chapter in the CBSE curriculum is discussed in detail, complete with explanations, definitions, tables, facts, and examples. The questions in each chapter follow the CBSE board exam question pattern. As a result, students turn to NCERT textbooks and solutions for the best guidance in board exam preparation. Students can easily download all of the necessary study materials, including NCERT, from the website.

2. How many books on accounting does the NCERT publish?

Accountancy books are published by NCERT in two sets for CBSE class 12 students. The first book covers Partnership Accounts, while the second covers Company Accounts and Financial Statement Analysis. Based on the differences in concepts, the syllabus has been divided into two books. On the official website, you can download solutions for both the NCERT Accountancy books. These two books are available to students at any time and can be downloaded and used as needed.

3. Which book contains the answers to the NCERT accounting questions?

The answers to the questions in both NCERT accountancy textbooks are available online. These contain a precise and appropriate answer to every question in the NCERT accountancy books. Even subjective questions are answered in a concise format with all the necessary details, providing students with a comprehensive understanding of a particular topic. Extramarks offers free downloads of CBSE Class 12 NCERT Books for Accountancy for the purpose of student learning.

4. How should I study for my Class 12 Accountancy exams?

To avoid a last-minute rush, we recommend that you practice all of your concepts several days before the exam. This will not only give you time to deal with the stress, but it will also give you confidence when answering questions during an exam. Students should take brief notes that they can refer to at any time before the exams.

5. What is the weightage of Class 12 NCERT Accountancy topics?

The mark distribution of CBSE Class 12 Accountancy units is as follows:

Part A – Non-profit Organisation Accounting – 60 points

Unit 1 – 10 Points

Unit 2 – 30 Points

Unit 3 – 20 Points

Part B – Financial statement analysis (20 points)

Unit 4 – 12 Points

Unit 5 – Eight Points

Students can plan their study strategy by understanding the mark distribution of each chapter and concentrating their efforts on units with a higher weightage.

6. Why should I use NCERT textbooks to prepare for the Class 12 board exam?

 Here’s why you should refer to NCERT text books for the Class 12 board exams:

(i) All NCERT books are written by subject matter experts.

(ii) Explains all concepts using straightforward language.

(iii) It covers every subject and concept covered in the CBSE Class 12 curriculum.

(iv) NCERT books contain a variety of questions that can be used to study for the board exam.

7. What is the benefit of solving the previous year’s question papers?

Students should solve previous year’s question papers because it will provide them with a realistic picture of the exam scenario and paper pattern. Only after completing the syllabus on time will the students be able to use the accountancy question paper for the class 12 state board to get some extra practice material. Students can check their level of preparation for the upcoming accountancy exam by solving CBSE question papers. Accountancy papers from the previous year will help you prepare for the CBSE class 12 board exam.