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Accountancy · 2024 · 3 marks
CBSE 2024 · Region 1 · Set 1 · Q32
From the given information, calculate: (a) Quick Ratio (b) Inventory Turnover Ratio
From the given information, calculate : (a) Quick Ratio
(b)
Inventory Turnover Ratio
| Particulars | Amount (₹) |
| Current Assets | $\displaystyle 4,00,000$ |
| Inventory | $\displaystyle 1,00,000$ |
| Current Liabilities | $\displaystyle 2,00,000$ |
| Net Profit Before Tax | $\displaystyle 7,20,000$ |
| Revenue from Operations | $\displaystyle 10,00,000$ |
| Gross Profit Ratio $\displaystyle 20$% |
Marking-scheme solution
(a)
Quick Ratio= Quick Assets
Current Liabilities
Quick assets = Current Assets – Inventory
= $\displaystyle 4,00,000$ – $\displaystyle 1,00,000$
= ₹$\displaystyle 3,00,000$
Quick Ratio = $\displaystyle 3,00,000$ = $\displaystyle 1.5$:$\displaystyle 1$
$\displaystyle 2,00,000$
(b)
Inventory Turnover Ratio = Cost of Revenue from Operations
Average Inventory
Cost of Revenue from Operation = Revenue from Operations – Gross Profit
= $\displaystyle 10,00,000$ – $\displaystyle 2,00,000$
= ₹ $\displaystyle 8,00,000$
Inventory Turnover Ratio = $\displaystyle 8,00,000$ = $\displaystyle 8$ times
$\displaystyle 1,00,000$
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.