Change in Profit Sharing Ratio: Class 12 Previous Year Questions

Change in Profit Sharing Ratio questions asked in CBSE board exams

Repeated questions first. Open the free app to see each question as it appeared in the paper, with its marking scheme.

1. (a) Aryan and Adya were partners in a firm sharing profits and losses in the ratio of 3 : 1. Their Balance Sheet on 31st March, 2024 was as follows : Balance sheet of Aryan and Adya as at 3lstMarch,2024 Amount Amount Liabilities Assets () () Machinery Capitals…
   Board 20256 markslong answerRepeated: 2023,2025,2026
2. (a) Chandan, Ravi and Mahesh were partners in a firm sharing profits and losses in the ratio of 5 : 4 : 1.From 1st April, 2025 they decided to share the future profits in the ratio of 3 : 2 : 1. On that date there existed a general reserve of 7,00,000 in the b…
   Board 20261 markMCQ
3. (a) Misha, Sarita and Isha were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. With effect from 1st April 2024, they decided that they will share profits and losses equally. The gain or be : (A) Misha's sacrifice 1/6, Isha's gain 1/6 …
   Board 20251 markMCQ
4. (a) Anisha, Deepa and Charu were partners sharing profits and losses in the ratio of 5 : 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 change in profit-sharing ratio will be …
   Board 20251 markMCQ
5. Ashmit, Veena and Rohan were partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. Veena retired on 31st March, 2024. The capital accounts of Ashmit, Veena and Rohan showed a credit balance of 2,00,000, 1,80,000 and 1,20,000 respectively aft…
   Board 20251 markMCQ
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   Board 20241 markMCQ
7. Vibha, Sudha and Ashish were partners in a firm sharing profits in the ratio 2:3:l. Sudha retired and the balance in her capital account after making necessary adjustments on account of reserves, revaluation of assets and re-assessment of liabilities was 85,00…
   Board 20233 marksshort answer
8. Mita, Geeta and Mohit were partners in a firm sharing profits and losses in the ratio of 5:3:2. With effect from 1st April, 2022, they mutually agreed to share profits and losses in the ratio of 2:2:1. It was agreed that : (i) Goodwill of the firm was valued a…
   Board 20233 marksshort answer
9. On the reconstitution of a firm the value of furniture increased from 7,00,000to8,00,000andstockreducedto4,00,000from4,20,000 Gain or loss on revaluation will be : Gain 80,000 (a) (b) Loss 80,000 (d) Loss R 1,20,000 (c) Gain R 8,00,000
   Board 20231 markMCQ
10. , , y j 18 Riddhi, Siddhi and Vidhi were partners sharing profits and losses in the ratio of 7:5:3, w.e.f 01 April, 2023 they decided to share future profits and losses in the ratio of 5:4:1. Goodwill of the firm on the date of reconstitution was valued at ₹ 3…
    CBSE practice 2023-243 marksshort answer
11. X and Y were partners in the profit-sharing ratio of 3: 2. Their balance sheet as at March 31, 2022 was as follows: 6 Balance Sheet as at March 31, 2022 Liabilities Amount (₹) Assets Amount (₹) Creditors General Reserve Capital Accounts: X 1,19,000 Y 1,12,000 …
    CBSE practice 2022-236 markslong answer
12. On 31st March 2023 the Balance sheet of Zoya and Zara who were sharing profits and losses in the ratio of 3:2 was as follows. Liabilities Amount (Rs.) Assets Amount (Rs.) Creditors Bills payable General reserves Capitals Zoya 50,000 Zara 35,000 29,000 6,000 16…
    CBSE practice 2023-246 markslong answer
13. The Balance sheet of P,Q and R who were sharing profits and losses in the ratio 5:3:2 as at 31st March 2023 Liabilities ₹ Assets ₹ Creditors 50,000 Bank 40,000 Employee Provident Fund 10,000 Stock 80,000 Profit & Loss A/c 85,000 Debtors 1,00,000 Capital A/c s:…
    CBSE practice 2023-246 markslong answer
14. Note: There is no change in the Question Paper Design and Assessment Pattern for Academic Session 2026-27. 24. A, B and C are partners sharing profits and losses in the ratio of 4:3:3. They decided to change their profit-sharing ratio to 3:2:5 with effect from…
    Sample paper 2026-276 markslong answer
15. Danish, Zaid and Mihir who were sharing profits and losses equally decided to share the future profits and losses in the ratio to 5:4:3 with effect from 1st April 2023. An extract of their Balance Sheet as at 31st March 2023 is: Liabilities Amount Assets Amoun…
    CBSE practice 2023-241 markMCQ
16. A, B and C are partners sharing profits in the ratio of 4:3:2. W.e.f. 1st April 2026 they decided to share future profits in the ratio of 1:1:1. On the date of reconstitution, Workmen Compensation Reserve appears in the books of the firm at ₹27,000, and the li…
    Sample paper 2026-271 markMCQ
17. Assertion (A):- Goodwill share brought in by new partners is distributed amongst old partners in old ratio. Reason (R) :- Gaining Partner will be compensated by Sacrificing Partners in ratio of their sacrifice. A. Both A and R are correct B. Both A and R are i…
    CBSE practice 2023-241 markAssertion-Reason

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