Are you looking for Class 12 Accounting Model Question/ Sample paper of Accounting.You are in right place .Here we puts Class 12 Accounting Model Question PDF 2080-2023.The National Examination Board (NEB) has published model question for Grade 12 Examination for the year 2080 (2023).This Model question definitely Help in your Accounting Exam Paper Day .
Class 12 Accounting Model Question In PDF (SET A)
Here we puting(Set A) Class 12 Accounting Model Question in PDF you can easily download And Practice offline as well.View model question of Accounting -Set A below:
Class 12 Accounting Model Question In PDF (SET B)
Here we puting(Set B) Class 12 Accounting Model Question in PDF you can easily download And Practice offline as well.View model question of Accounting -Set B below:
Frequently Asked Question (FAQ)
Who is an Accountant?
An accountant is a professional who is adept in performing accounting work, be it recording business transactions, issuing financial statements, issuing an invoice to the customer, and the list goes on. An accountant works under the supervision of a CPA (Certified Public Accountant), auditor, or any other management accountant.
How to maintain the accuracy of financial records?
There are ways to help you maintain the accuracy of your financial records. Let’s take a look:
- You need to identify your sources of income to maintain the accuracy of your financial records.
- You should keep the invoice and receipt
- Filing a tax return is a good way to avoid penalties
- Preparing financial statements is another way to maintain the accuracy of financial records. You should always keep an eye on your deductible budget.
What are some mistakes people make when calculating money?
There are mistakes people make in accounting. Let’s take a look:
- Consolidating personal accounts with company business accounts is the most common accounting mistake people make.
- Lack of communication between the accountant and the company is another mistake people make. Lack of backup, sharing resources are some mistakes to avoid in accounting.
- Manual accounting should be avoided
- Some people don’t keep the books fresh, which is a mistake to avoid. Some people forget to keep receipts, leading to accounting errors. Therefore such actions should be avoided.
How do I organize my small business?
One of the first decisions you will make when starting out is the organization of your business. The system you choose affects taxes, fees, management, and how you get access to your business.
You can structure your business as:
- Private business
- Limited Liability Company (SARL)
- Corporation (C Corp or S Corp)
Some businesses are more difficult to manage than others. Depending on how you structure your business, you may have significant filing and reporting requirements.
Before choosing a business company, define your business goals and consider the pros and cons of each.
What accounting procedures should I know?
What do you know about accounting? If you haven’t memorized all the vocabulary, don’t worry about getting out the flash cards. Instead, familiarize yourself with a few words to get started:
- Cost of sales (COGS): Cost shows how much it costs to produce your offering. COGS is an important factor in determining your company’s profitability.
Debits and Credits: Equal but different entries in your book (ie one increases one account and the other decreases an opposite account).
- Inventory: includes stockpiled raw materials, work materials, and finished goods available for sale.
Assets: physical (tangible) or non-physical (intangible) assets of your business that add value to your business.
- Service: Your business’s debt. You may have both short-term debt that is due within a year and long-term debt that is not due within a year.
- Equity: The value of your business after you subtract liabilities from assets.
Revenue: The amount of money your business earns from sales.
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