Important Questions for Class 12

Important Questions for Class 12 Maths, Physics, Chemistry, Biology, Business Studies, Accountancy, Economics, Political Science and others subjects for academic session 2020-2021 based on latest NCERT Books.

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Important Questions for Class 12

Class:12
Subjects:Maths, Physics, Accounts, Eco, B.St., Chem, etc.
Contents:Important Questions for Exams

Important Questions for Class 12 Board Exams

Important as well as Expected Questions for Class 12 board examination 2020-2021. These questions are also important for viva questions asked in practical examinations. This is the collections of questions given in NCERT Books, asked in Practical Exams as Viva questions, asked in Board papers and questions given in CBSE Sample Papers.




What is disguised unemployment? In which sector is it generally found?

When people are engaged in work which are not needed. Additional output is zero. This is generally found in agricultural sector.

What are the different types of infrastructure?

Economic infrastructure: It includes infrastructure associated with energy, transportation and communication.
Social Infrastructure: It includes infrastructure associated with education, health and housing.

What is GBD?

Global Burden of Disease. Some experts use this measure to identify the number of people dying prematurely due to a particular disease as well as the number of years spend by them in a state of disability due to such disease.

Give 2 examples of commercial/non-commercial energy.

Commercial energy: Refers to those sources of energy which have to be paid by users. For e.g. petroleum and electricity.
Non-commercial energy: Refers to those source of energy which have not to be paid by users. For e.g. dried dung, agricultural waste etc.

How is human development a wider term than human capital?

Human capital treats human beings as a means to an end whereas human development treats human beings as ends in themselves. Secondly, the notion of human capital says that there is no need of education and health if it cannot increase production of goods and services. However, human development means that investment in education and health is necessary even if there is no increase in productivity.




Accounting Concepts in Brief

1. Materiality: According to the convention of Materiality, a transaction should be reported in the financial statements on the basis of its materiality. An item is material if it can influence the decision of the user.
2. Full Disclosure: According to the Convention of Full Disclosure, all significant information relating to the economic affairs of the entity should be reported in the financial statements in an understandable manner.
3. Conservatism: According to the convention of conservatism, anticipated losses should be accounted while anticipated income should not be accounted.
4. Money Measurement: According to the Money Measurement Concept, transactions and events that can be measured in terms of money are recorded in the books of account.
5. Verifiable Objective Concept: According to the Verifiable Objective Concept, accounting should be free from personal bias. Measurements that are based on verifiable evidences are regarded as objective.
6. Matching Revenue with Cost: According to the Matching Concept, cost incurred to earn revenue should be recognised as expense in the period when revenue is recognised as earned.
7. Historical Cost Concept: According to the Historical Cost Concept, assets are recorded in the books of account at the prices paid to acquire them and it is the basis for all subsequent accounting of the assets.
8. Revenue Recognition Concept: According to the Revenue Recognition Concept, revenue is considered to have been realised when a transaction has been entered into and the obligation to receive the amount has been established.



9. Dual Aspect Concept: Every transaction has two aspects a debit and a credit of equal amount. It means for every debit there is a credit of equal amount in one or more accounts and vice versa. According to Dual Aspect Concept, both the aspects are recorded in the books of account.
10. Business Entity Concept: According to the Business Entity Concept proprietor of the business is a separate and distinct entity from business. The transactions are recorded in the books of account from the point of view of business, not from the point of view of the proprietor.
11. Accounting Period Concept: According to the Accounting Period Concept, life of the business is broken into smaller periods (one year) so that its performance is measured at regular intervals.



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