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CBSE Class 12 Accountancy Chapter 10 Accounting Ratios — 20 MCQs with Answers

Accounting Ratios is the backbone of financial statement analysis in CBSE Class 12 Accountancy. Board examiners routinely set 3-mark and 4-mark problems asking you to compute, compare or interpret liquidity, solvency, activity or profitability ratios. Multiple-choice questions test formula accuracy and conceptual clarity in seconds. This page presents 20 exam-pattern MCQs drawn from NCERT Chapter 10, complete with step-by-step reasons. Work through each set, mark your answers, then review the explanations to lock in formulas before your board or pre-board exam.

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Key takeaways

  • ✓Liquidity ratios measure short-term solvency: current ratio ideally 2:1, quick ratio excludes inventory and prepaid expenses.
  • ✓Solvency ratios assess long-term financial stability: debt-equity ratio below 2:1 is considered safe; proprietary ratio shows owners' funds as a percentage of total assets.
  • ✓Activity ratios gauge operational efficiency: inventory turnover ratio = Cost of Revenue from Operations ÷ Average Inventory; higher turnover indicates faster stock movement.
  • ✓Profitability ratios reveal earning capacity: gross profit ratio = (Gross Profit ÷ Net Revenue from Operations) × 100; net profit ratio uses profit after tax.
  • ✓Return on Investment (ROI) = (Net Profit after Interest and Tax ÷ Capital Employed) × 100; capital employed can be computed as Non-current Assets + Working Capital.
  • ✓CBSE board papers carry 3-4 marks questions on ratio calculation, interpretation and comparison; mastering MCQs sharpens formula recall and prevents silly errors.
  • ✓CBSETUTOR.ai provides 24×7 doubt-solving for ratio-based numericals via photo upload, covering every CBSE Class 12 Accountancy topic at a flat ₹999/month with a 3-day free trial.

Liquidity Ratios — Current Ratio & Quick Ratio MCQs

Liquidity ratios measure a firm's ability to meet short-term obligations. The current ratio divides current assets by current liabilities; the ideal benchmark is 2:1. The quick ratio (also called acid-test or liquid ratio) removes inventory and prepaid expenses from current assets because they are not immediately convertible to cash. A quick ratio of 1:1 or higher signals healthy short-term liquidity. CBSE papers often ask you to compute these ratios from a given balance sheet extract or compare them across two years. Watch out for common pitfalls: bank overdraft is a current liability, marketable securities are included in quick assets, and goodwill or fictitious assets never appear in either ratio.
  • Q1. Current Assets ₹5,00,000; Current Liabilities ₹2,50,000. Current Ratio is: (a) 1:1 (b) 2:1 (c) 2.5:1 (d) 5:1
  • Answer: (b) 2:1. Current Ratio = 5,00,000 ÷ 2,50,000 = 2:1.
  • Q2. Current Assets ₹8,00,000 (including Inventory ₹3,00,000 and Prepaid Expenses ₹50,000); Current Liabilities ₹4,00,000. Quick Ratio is: (a) 1:1 (b) 1.125:1 (c) 2:1 (d) 1.5:1
  • Answer: (b) 1.125:1. Quick Assets = 8,00,000 – 3,00,000 – 50,000 = 4,50,000; Quick Ratio = 4,50,000 ÷ 4,00,000 = 1.125:1.
  • Q3. If Current Ratio is 2.5:1 and Current Liabilities ₹60,000, Current Assets amount to: (a) ₹24,000 (b) ₹1,50,000 (c) ₹2,10,000 (d) ₹1,00,000
  • Answer: (b) ₹1,50,000. Current Assets = 2.5 × 60,000 = 1,50,000.
  • Q4. Which of the following is excluded from quick assets? (a) Debtors (b) Cash (c) Prepaid Insurance (d) Marketable Securities
  • Answer: (c) Prepaid Insurance. Quick assets exclude inventory and prepaid expenses.

Solvency Ratios — Debt-Equity & Proprietary Ratio MCQs

Solvency ratios assess long-term financial stability and the ability to meet long-term obligations. The debt-equity ratio compares external liabilities (long-term borrowings plus current liabilities) to shareholders' funds (equity share capital + preference share capital + reserves and surplus – fictitious assets). A ratio below 2:1 is considered prudent. The proprietary ratio (also called equity ratio) measures shareholders' funds as a percentage of total assets (tangible net worth ÷ total assets). A higher proprietary ratio indicates lower dependence on borrowed funds. CBSE examiners test your grasp of what to include in total debt: trade payables and bank overdraft count, but provisions are often excluded unless stated. Always read the question stem carefully.
  • Q5. Shareholders' Funds ₹6,00,000; Total Debt ₹9,00,000. Debt-Equity Ratio is: (a) 1.5:1 (b) 0.67:1 (c) 2:1 (d) 3:2
  • Answer: (a) 1.5:1. Debt-Equity Ratio = 9,00,000 ÷ 6,00,000 = 1.5:1.
  • Q6. Shareholders' Funds ₹8,00,000; Total Assets ₹12,00,000. Proprietary Ratio is: (a) 0.67:1 or 67% (b) 1.5:1 (c) 0.5:1 (d) 0.75:1
  • Answer: (a) 0.67:1 or 67%. Proprietary Ratio = 8,00,000 ÷ 12,00,000 = 0.67 or 67%.
  • Q7. A firm's Debt-Equity Ratio is 2:1. If Total Debt is ₹10,00,000, Shareholders' Funds are: (a) ₹5,00,000 (b) ₹20,00,000 (c) ₹10,00,000 (d) ₹15,00,000
  • Answer: (a) ₹5,00,000. Shareholders' Funds = 10,00,000 ÷ 2 = 5,00,000.
  • Q8. Total Assets ₹15,00,000; Shareholders' Funds ₹9,00,000. Total Debt is: (a) ₹6,00,000 (b) ₹24,00,000 (c) ₹9,00,000 (d) Cannot be determined
  • Answer: (a) ₹6,00,000. Total Assets = Shareholders' Funds + Total Debt, so Total Debt = 15,00,000 – 9,00,000 = 6,00,000.

Activity Ratios — Inventory Turnover & Debtors Turnover MCQs

Activity ratios measure how efficiently a business utilises its assets. Inventory (or stock) turnover ratio = Cost of Revenue from Operations ÷ Average Inventory. A higher ratio means stock is sold and replaced faster, improving cash flow. Debtors (or trade receivables) turnover ratio = Net Credit Revenue from Operations ÷ Average Trade Receivables. If credit revenue is not given separately, assume total revenue is credit revenue. Some questions ask for turnover in times; others ask for average collection period in days = 365 ÷ Debtors Turnover. Working capital turnover = Net Revenue from Operations ÷ Working Capital (Current Assets – Current Liabilities). Always use Cost of Revenue from Operations for inventory turnover, not sales. This distinction often traps students in MCQs.
  • Q9. Cost of Revenue from Operations ₹12,00,000; Opening Inventory ₹1,50,000; Closing Inventory ₹2,50,000. Inventory Turnover Ratio is: (a) 6 times (b) 8 times (c) 4.8 times (d) 5 times
  • Answer: (a) 6 times. Average Inventory = (1,50,000 + 2,50,000) ÷ 2 = 2,00,000. Inventory Turnover = 12,00,000 ÷ 2,00,000 = 6 times.
  • Q10. Net Credit Revenue from Operations ₹18,00,000; Average Trade Receivables ₹3,00,000. Debtors Turnover Ratio is: (a) 6 times (b) 5 times (c) 9 times (d) 4 times
  • Answer: (a) 6 times. Debtors Turnover = 18,00,000 ÷ 3,00,000 = 6 times.
  • Q11. Debtors Turnover Ratio is 8 times. Average collection period is approximately: (a) 45 days (b) 30 days (c) 46 days (d) 60 days
  • Answer: (c) 46 days (approximately). Average Collection Period = 365 ÷ 8 = 45.625 ≈ 46 days.
  • Q12. Net Revenue from Operations ₹24,00,000; Working Capital ₹4,00,000. Working Capital Turnover Ratio is: (a) 6 times (b) 4 times (c) 8 times (d) 3 times
  • Answer: (a) 6 times. Working Capital Turnover = 24,00,000 ÷ 4,00,000 = 6 times.

Profitability Ratios — Gross Profit & Net Profit Ratio MCQs

Profitability ratios reveal a firm's earning capacity and operational efficiency. Gross Profit Ratio = (Gross Profit ÷ Net Revenue from Operations) × 100. Gross profit = Net Revenue from Operations – Cost of Revenue from Operations. A higher gross profit ratio indicates better pricing power or lower cost of goods sold. Net Profit Ratio = (Net Profit after Tax ÷ Net Revenue from Operations) × 100. CBSE questions often require you to compute gross profit or net profit first from given figures, then apply the ratio formula. Operating Ratio = [(Cost of Revenue from Operations + Operating Expenses) ÷ Net Revenue from Operations] × 100. A lower operating ratio signals higher operating profit. Watch for gross profit versus gross profit ratio and net profit versus net profit ratio; mixing them up costs marks.
  • Q13. Net Revenue from Operations ₹20,00,000; Gross Profit ₹5,00,000. Gross Profit Ratio is: (a) 20% (b) 25% (c) 30% (d) 40%
  • Answer: (b) 25%. Gross Profit Ratio = (5,00,000 ÷ 20,00,000) × 100 = 25%.
  • Q14. Net Revenue from Operations ₹15,00,000; Cost of Revenue from Operations ₹9,00,000. Gross Profit Ratio is: (a) 40% (b) 60% (c) 50% (d) 33.33%
  • Answer: (a) 40%. Gross Profit = 15,00,000 – 9,00,000 = 6,00,000. Gross Profit Ratio = (6,00,000 ÷ 15,00,000) × 100 = 40%.
  • Q15. Net Revenue from Operations ₹10,00,000; Net Profit after Tax ₹1,50,000. Net Profit Ratio is: (a) 10% (b) 15% (c) 20% (d) 25%
  • Answer: (b) 15%. Net Profit Ratio = (1,50,000 ÷ 10,00,000) × 100 = 15%.
  • Q16. Cost of Revenue from Operations ₹8,00,000; Operating Expenses ₹1,50,000; Net Revenue from Operations ₹12,00,000. Operating Ratio is: (a) 79.17% (b) 66.67% (c) 75% (d) 80%
  • Answer: (a) 79.17%. Operating Ratio = [(8,00,000 + 1,50,000) ÷ 12,00,000] × 100 = (9,50,000 ÷ 12,00,000) × 100 = 79.17%.

Return on Investment (ROI) & Related MCQs

Return on Investment (ROI) measures profitability relative to capital employed. ROI = (Net Profit after Interest and Tax ÷ Capital Employed) × 100. Capital Employed can be computed in two ways: (i) Non-current Assets + Working Capital, or (ii) Shareholders' Funds + Non-current Liabilities. Both methods yield the same figure if the balance sheet is correctly prepared. CBSE papers may ask you to calculate capital employed first, then ROI. Alternatively, some questions use Return on Equity (ROE) = (Net Profit after Tax and Preference Dividend ÷ Equity Shareholders' Funds) × 100 or Return on Assets (ROA). Always identify which denominator the question asks for: total assets, equity, or capital employed. Confusion here is the most common mistake in board exams.
  • Q17. Net Profit after Interest and Tax ₹3,00,000; Capital Employed ₹15,00,000. ROI is: (a) 15% (b) 20% (c) 25% (d) 30%
  • Answer: (b) 20%. ROI = (3,00,000 ÷ 15,00,000) × 100 = 20%.
  • Q18. Shareholders' Funds ₹10,00,000; Non-current Liabilities ₹5,00,000; Net Profit after Interest and Tax ₹2,25,000. ROI is: (a) 15% (b) 22.5% (c) 18% (d) 20%
  • Answer: (a) 15%. Capital Employed = 10,00,000 + 5,00,000 = 15,00,000. ROI = (2,25,000 ÷ 15,00,000) × 100 = 15%.
  • Q19. Return on Investment is 18%; Capital Employed ₹20,00,000. Net Profit after Interest and Tax is: (a) ₹3,60,000 (b) ₹2,50,000 (c) ₹4,00,000 (d) ₹3,00,000
  • Answer: (a) ₹3,60,000. Net Profit = (18 ÷ 100) × 20,00,000 = 3,60,000.
  • Q20. Assertion (A): A higher ROI indicates better utilisation of capital employed. Reason (R): ROI measures profitability per rupee of capital invested. (a) Both A and R are true, and R is the correct explanation of A. (b) Both A and R are true, but R is not the correct explanation. (c) A is true, R is false. (d) A is false, R is true.
  • Answer: (a) Both A and R are true, and R is the correct explanation of A. ROI directly links profit to capital invested, so a higher ratio reflects more efficient capital use.

How to Attempt MCQs in the CBSE Paper — Strategy & Tips

CBSE Class 12 Accountancy board papers typically carry 1-mark objective questions or 4-5 competency-based MCQs in Section A. Each question takes 30-45 seconds if you know your formulas cold. Read the question stem twice: note which figures are opening, closing or average, and check whether the question asks for a ratio, a percentage or an absolute figure. Eliminate obviously wrong options first. If two options are close, recalculate using the exact formula. For assertion-reason MCQs, evaluate the assertion independently, then the reason, and finally whether R explains A. Do not guess blindly—negative marking is rare but careless errors waste easy marks. Practice at least 50 MCQs from past years, sample papers and NCERT exemplar before the exam. Time yourself: aim for 20 MCQs in 10 minutes during revision. CBSETUTOR.ai offers unlimited MCQ drills with instant feedback, covering every ratio formula and tricky variation, all accessible via mobile at ₹999/month for Classes 6-12 with a 3-day free trial.
  • Memorise core formulas on a single index card: Current Ratio, Quick Ratio, Debt-Equity Ratio, Proprietary Ratio, Inventory Turnover, Debtors Turnover, Gross Profit Ratio, Net Profit Ratio, Operating Ratio, ROI.
  • Watch units: ratios can be expressed as x:1, percentages or decimals; read the options carefully.
  • Use the elimination method: if the question gives Current Assets ₹5,00,000 and asks for Current Ratio, any option yielding a ratio greater than 5:1 when Current Liabilities are ₹1,00,000 is instantly correct.
  • For assertion-reason questions, mark (a) only if both are true AND R explains A; many students miss this nuance.
  • Do not spend more than 1 minute per MCQ; if stuck, flag it and return after completing easier questions.

Common Pitfalls & How to Avoid Them

Even strong students lose marks on ratio MCQs because of formula mix-ups and careless reading. The most frequent error is using Sales instead of Cost of Revenue from Operations in the inventory turnover formula—always use cost for inventory turnover and sales (revenue) for debtors turnover. Another trap is forgetting to compute average inventory or average receivables when opening and closing figures are given. In solvency ratios, students sometimes include provisions or exclude bank overdraft; the question will specify what constitutes total debt. For profitability ratios, ensure you use Net Revenue from Operations (sales minus returns) in the denominator, not gross sales. In assertion-reason MCQs, asserting that both statements are individually true does not mean R explains A; read the logical link carefully. Finally, never assume standard ideal ratios hold universally: a current ratio of 1.5:1 may be acceptable in a retail business with high inventory turnover, whereas 2:1 is the textbook ideal. Context matters, but CBSE MCQs usually stick to NCERT norms unless stated otherwise.
  • Inventory Turnover uses Cost of Revenue from Operations, not Net Revenue; mixing them cuts your answer by the gross profit margin percentage.
  • Always compute averages when both opening and closing balances appear; omitting this step halves or doubles the ratio.
  • Quick assets exclude inventory and prepaid expenses but include marketable securities; memorise the exclusion list.
  • Debt-Equity Ratio denominator is Shareholders' Funds (equity + reserves – fictitious assets), not just equity share capital.
  • Gross Profit Ratio is a percentage; some students write the answer as a ratio (e.g., 25:100) instead of 25%, losing marks for incorrect format.
  • CBSETUTOR.ai's MCQ module flags these common mistakes in real time, showing you exactly where you went wrong and the correct step-by-step solution.

NCERT Class 12 Accountancy MCQ — Chapter 10 Alignment

All MCQs on this page map directly to NCERT Class 12 Accountancy Part II, Chapter 10: Accounting Ratios. NCERT divides the chapter into four sections—liquidity ratios (current and quick), solvency ratios (debt-equity, total assets to debt, proprietary), activity ratios (inventory, debtors, working capital, fixed assets turnover) and profitability ratios (gross profit, net profit, operating, ROI). The textbook provides numerical examples after each ratio; every formula here is lifted verbatim from those pages. CBSE sample papers and the 2024 board paper included 4 MCQs in Section A on ratios, testing quick recall and one-step calculation. Practising NCERT exercise questions first builds conceptual clarity; then attempt these MCQs to sharpen speed and accuracy. Cross-reference your answers with NCERT solutions to ensure you are applying formulas the board-prescribed way, especially for capital employed and operating profit calculations.
  • NCERT page 10.18 explains that Quick Ratio excludes inventory and prepaid expenses; CBSE strictly follows this definition.
  • NCERT formula for Debt-Equity Ratio is Total Debt (Long-term + Current Liabilities) ÷ Shareholders' Funds; some reference books use only long-term debt—stick to NCERT for boards.
  • NCERT uses Cost of Revenue from Operations for Inventory Turnover and Net Credit Revenue from Operations for Debtors Turnover; this distinction appears in every CBSE marking scheme.
  • Operating Ratio formula in NCERT: (Cost of Revenue from Operations + Operating Expenses) ÷ Net Revenue from Operations × 100; do not add non-operating expenses.
  • ROI formula in NCERT: Net Profit after Interest and Tax ÷ Capital Employed × 100; some students mistakenly use profit before interest, losing full marks.

Beyond MCQs — Linking Ratios to Long-Answer Questions

While MCQs test formula recall, CBSE 4-mark and 6-mark questions ask you to compute multiple ratios from a common balance sheet or statement of profit and loss, then interpret trends or compare two firms. For instance, a question may provide Year 1 and Year 2 data and ask: Calculate Current Ratio, Quick Ratio, Debt-Equity Ratio and ROI for both years; comment on the liquidity and solvency position. Interpretation requires you to state whether an increase in current ratio from 1.5:1 to 2.2:1 signals improved short-term solvency or excess idle current assets. Practising MCQs sharpens your calculation speed so you have time to write two-sentence interpretations in long answers. Another common 6-mark pattern: prepare a comparative statement of ratios and identify which ratio improved, which deteriorated and suggest one reason for each change. Mastering the 20 MCQs here ensures you do not lose easy calculation marks, leaving you bandwidth to focus on the interpretation component that earns the remaining 2-3 marks.
  • A typical 6-mark board question gives you a Balance Sheet and asks for four ratios plus interpretation; spend 3 minutes on calculations, 2 minutes on interpretation.
  • Interpretation phrases to memorise: 'The increase in Quick Ratio from 0.9:1 to 1.2:1 indicates improved liquidity,' or 'A Debt-Equity Ratio rising from 1.5:1 to 2.3:1 suggests higher financial risk.'
  • CBSE marking schemes award 1 mark per correct ratio and 0.5 marks per valid comment; practising MCQs ensures you never drop the 4 calculation marks.
  • Cross-topic integration: Chapter 10 ratios often use figures from Chapter 8 (Financial Statements) or Chapter 9 (Analysis of Financial Statements); revise those chapters in parallel.
  • CBSETUTOR.ai offers step-by-step solutions to NCERT long-answer questions with model interpretations, accessible anytime on your phone for ₹999/month across all subjects and classes.

Using CBSETUTOR.ai for Ratio Mastery

Ratio calculations can feel mechanical until a new twist appears—like a question mixing opening and closing balances or asking for capital employed when only total assets and current liabilities are given. CBSETUTOR.ai provides a 24×7 AI tutor that accepts photo uploads of any ratio problem, recognises the figures, applies the correct NCERT formula and delivers a step-by-step solution in seconds. Whether you are stuck on computing average inventory, determining which items to exclude from quick assets or interpreting a falling ROI, the platform explains every line in simple language. Unlike static videos, you can ask follow-up questions: 'Why is bank overdraft a current liability?' or 'How do I compute capital employed from this balance sheet?' The AI adapts to your doubt, offering tailored examples. At ₹999/month for every CBSE subject from Class 6 to 12, it is more affordable than a single private tuition session and available whenever you revise—late night before the exam or Sunday morning. Start with the 3-day free trial, upload five ratio MCQs and see how instant feedback builds confidence faster than passive reading.
  • Photo-upload feature: snap the MCQ or numerical from your textbook, get the solution with every calculation step explained.
  • Formula library: one-tap access to all 10+ ratio formulas with NCERT page references and worked examples.
  • Mistake tracker: the AI logs your common errors (e.g., forgetting to average inventory) and sends targeted practice questions.
  • Mock tests: auto-generated 20-question MCQ sets on Accounting Ratios, timed and scored like the real board paper.
  • Flat ₹999/month for all subjects (Accountancy, Business Studies, Economics, Maths, English) and all classes 6-12; no hidden charges or per-question fees.

Frequently asked questions

How many MCQs on Accounting Ratios appear in the CBSE Class 12 board paper?+
CBSE typically includes 4-5 one-mark MCQs in Section A of the Accountancy Theory paper, covering liquidity, solvency, activity or profitability ratios. Sample papers and 2024 board papers confirm this pattern.
What is the difference between Current Ratio and Quick Ratio?+
Current Ratio = Current Assets ÷ Current Liabilities. Quick Ratio excludes inventory and prepaid expenses from current assets because they are not immediately liquid. Quick Ratio is thus a stricter liquidity measure.
Do I use Cost of Revenue from Operations or Net Revenue for Inventory Turnover?+
Always use Cost of Revenue from Operations (Cost of Goods Sold) for Inventory Turnover Ratio. Using Net Revenue (Sales) is a common error that yields an incorrect higher ratio and loses marks.
How do I compute Capital Employed for ROI when only Shareholders' Funds and Total Assets are given?+
Capital Employed = Shareholders' Funds + Non-current Liabilities. If Total Assets and Current Liabilities are known, Capital Employed = Total Assets – Current Liabilities. Both methods are equivalent per the accounting equation.
What is a good Debt-Equity Ratio according to NCERT?+
NCERT suggests a Debt-Equity Ratio below 2:1 is generally considered safe, indicating the firm is not over-leveraged. However, industry norms vary; capital-intensive sectors may tolerate higher ratios.
Can I use a calculator for ratio MCQs in the CBSE board exam?+
CBSE allows simple calculators (non-programmable) in the Accountancy exam. Use it to avoid arithmetic errors, but practice mental approximation for quick elimination during MCQs.
Why do some questions give opening and closing balances while others give only one figure?+
When both opening and closing balances are provided, NCERT and CBSE expect you to compute the average. If only one figure is given, use that figure directly. Always read the question carefully.
Are assertion-reason MCQs difficult in Chapter 10 Accounting Ratios?+
Assertion-reason MCQs test conceptual links. Evaluate the assertion independently, then the reason, and finally check if R explains A. Practice 10-15 such questions to master the format; they often carry 1 mark each.
How can CBSETUTOR.ai help me improve my MCQ accuracy?+
CBSETUTOR.ai provides unlimited auto-generated MCQs with instant step-by-step solutions. Upload any ratio problem via photo, get the correct formula application, and track repeated mistakes. The AI adapts practice sets to your weak areas, all for ₹999/month with a 3-day free trial.
What is the Operating Ratio formula and what does it exclude?+
Operating Ratio = [(Cost of Revenue from Operations + Operating Expenses) ÷ Net Revenue from Operations] × 100. Exclude non-operating expenses (interest, loss on sale of assets) and non-operating incomes. A lower ratio indicates higher operating profit margin.

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