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UPSC Commerce & Accountancy — Previous Year Questions

Every question from Commerce & Accountancy papers in UPSC Civil Services Mains (2021–2026), organised by year. 96 questions in total, each with directive-word analysis, model answer points, and a full evaluation rubric.

96Questions
6Years covered

2026 Mains

16 questions · 800 marks

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Paper I 8 Qs · 400 marksPaper II 8 Qs · 400 marks
All 16 questions from 2026

Paper I

  1. Q1 (a) What is Profit-Volume ratio ? How does it help in Profit planning ? Explain with suitable examples. (10 marks) (b)… 50 marks
  2. Q2 (a) X ltd. and Y ltd. agreed to amalgamate and form a new company Z ltd. which will take over all the assets and… 50 marks
  3. Q3 (a) Mr. A of Agra submits the following particulars of his let out residential house : (A) Rent received for house as… 50 marks
  4. Q4 (a) The financial position of a firm as on 31st March 2024 and 2025 was as follows : Particulars | 31.3.2024 |… 50 marks
  5. Q5 (a) Explain the CAPM approach for computing the cost of equity. Discuss the merits and demerits of the approach. (10… 50 marks
  6. Q6 (a) Discuss the monetary policy of the Reserve Bank of India over the years. Explain the tools of monetary policy… 50 marks
  7. Q7 (a) Using the following information, complete the Balance Sheet given below : Total Debt to Net worth – 0·5 : 1… 50 marks
  8. Q8 (a) “Investing in securities through mutual funds is a better choice than direct investment” — explain the statement… 50 marks

Paper II

  1. Q1 (a) “Technological environment is considered dynamic.” Comment. (10 marks) (b) Explain the concept of organisational… 50 marks
  2. Q2 (a) Explain the various types of organisational culture. (10 marks) (b) Define organisational design. Explain in detail… 50 marks
  3. Q3 (a) What is formalisation? Discuss its role in achieving organisational efficiency and mention the potential challenges… 50 marks
  4. Q4 (a) “Transactional analysis provides a useful but limited framework for understanding organisational communication.”… 50 marks
  5. Q5 (a) Paradoxes in Human Resource Management (HRM) (10 marks) (b) Technological innovations and employees’ retention (10… 50 marks
  6. Q6 (a) “Job rotation, job enlargement and job enrichment are merely attempts by managers to avoid individuals at work.”… 50 marks
  7. Q7 (a) “Many of the industrial conflicts have their roots in communication gap between management and workers.” Discuss… 50 marks
  8. Q8 (a) “Over the last few decades, the relationships between workers and management have considerably changed.” Comment… 50 marks

2025 Mains

16 questions · 800 marks

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Paper I 8 Qs · 400 marksPaper II 8 Qs · 400 marks
All 16 questions from 2025

Paper I

  1. Q1 (a) Discuss the key points that an Auditor would take into consideration while auditing the books of accounts of an… 50 marks
  2. Q2 From the following Trial Balance and other additional information furnished by AGN Ltd., prepare the Balance Sheet as… 50 marks
  3. Q3 (a) Explain in brief the deductions that are expressly allowed in computing the income from business under the… 50 marks
  4. Q4 (a) State the duties of an Auditor with regard to payment of dividend. Discuss the audit procedure to be followed by… 50 marks
  5. Q5 (a) Explain the concept of optimal capital structure. How does a company decide on the right mix of debt and equity?… 50 marks
  6. Q6 (a) Define and explain the concept of merger, takeover and amalgamation. What leads to the failure of a merger or an… 50 marks
  7. Q7 (a) As a Financial Manager of an engineering company, you are required to compute the weighted average cost of capital… 50 marks
  8. Q8 (a) Explain the structure of Indian financial system. Discuss the emerging role of RBI in the changing global scenario… 50 marks

Paper II

  1. Q1 (a) Relationship between quality work life (QWL) and organisational performance. (10 marks) (b) Determinants of… 50 marks
  2. Q2 (a) "Organisational design is not merely about structure, but about strategically aligning people, processes, and… 50 marks
  3. Q3 (a) Explain the different leadership styles commonly found in organisations. Evaluate how such leadership styles can… 50 marks
  4. Q4 (a) How do different sources of power influence the formal and informal power structures within an organisation, and… 50 marks
  5. Q5 (a) Job evaluation and internal equity (10 marks) (b) Impact of traditional job specifications (10 marks) (c) Impact of… 50 marks
  6. Q6 (a) "Performance appraisal is not merely for appraisal but is for accomplishment and improvement of performance."… 50 marks
  7. Q7 (a) What is the role of International Labour Organisation (ILO) and how has it influenced labour and social policies in… 50 marks
  8. Q8 (a) What should be done to improve the work culture in our country ? Give suitable suggestions. (10 marks) (b) Define… 50 marks

2024 Mains

16 questions · 800 marks

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Paper I 8 Qs · 400 marksPaper II 8 Qs · 400 marks
All 16 questions from 2024

Paper I

  1. Q1 (a) Briefly explain the significance of Accounting Standard-7 (AS-7). (10 marks) (b) Explain why the companies issue… 50 marks
  2. Q2 (a) A Ltd. has acquired the business of B Ltd., whose Balance Sheet as at 31st March, 2024 is as under : I – Equity and… 50 marks
  3. Q3 (a) During the month of May 2024, total 2000 units were introduced into Process-I. The normal loss was estimated at 5%… 50 marks
  4. Q4 (a) Mrs. Y (59 years) receives ₹ 7,90,000 as basic pay and ₹ 1,18,000 as bonus during the previous year 2023 – 24… 50 marks
  5. Q5 (a) Define corporate restructuring. Differentiate between mergers and acquisitions. Also give suitable examples. (10… 50 marks
  6. Q6 (a) Six years ago, a machine was purchased for ₹ 3,00,000. It has been depreciated to a book value of ₹ 1,80,000. Its… 50 marks
  7. Q7 (a) The Board of Directors of a company asks to prepare a statement showing working capital estimates for a level of… 50 marks
  8. Q8 (a) Explain the key classification of the Indian financial system. Make a diagram that depicts the entire financial… 50 marks

Paper II

  1. Q1 (a) How does sensation differ from perception? (10 marks) (b) Explain the major differences between transactional and… 50 marks
  2. Q2 (a) How have organizations been defined? Compare different perspectives of organizations in India and Western… 50 marks
  3. Q3 (a) What are the major criticisms levelled against Herzberg's two-factor theory of motivation? Explain its contribution… 50 marks
  4. Q4 (a) Why does organizational politics emerge? What are its consequences? Suggest measures to avoid them. (20 marks) (b)… 50 marks
  5. Q5 (a) Discuss the problems faced in human resource planning. (10 marks) (b) Elaborate the merits and limitations of 360°… 50 marks
  6. Q6 (a) "Tests are useful in predicting the failure rather than success of the candidate on the job." Comment. (20 marks)… 50 marks
  7. Q7 (a) What do you mean by a model employer? Critically examine the role of public enterprises in acting as a model… 50 marks
  8. Q8 (a) "There are two approaches of managing industrial disputes in an organization—preventive and curative." Examine this… 50 marks

2023 Mains

16 questions · 800 marks

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Paper I 8 Qs · 400 marksPaper II 8 Qs · 400 marks
All 16 questions from 2023

Paper I

  1. Q1 (a) What is meant by buyback of shares by companies? Explain the reasons and sources of buyback of shares. (10 marks)… 50 marks
  2. Q2 (a) The Balance Sheet of AB Ltd. as on March 31, 2022 is as under (₹): I. Equity and Liabilities 1. Shareholders'… 50 marks
  3. Q3 (a) From the following information, prepare Process A/cs and calculate the actual profits earned by X Ltd. for the… 50 marks
  4. Q4 (a) A Limited invited applications for 160000 shares of ₹ 10 each at a premium of ₹ 2.50 per share payable as follows … 50 marks
  5. Q5 (a) Explain the 'Financial Indifference Point' in the context of EBIT-EPS analysis by giving suitable example. (10… 50 marks
  6. Q6 (a) Moon Ltd. wants to replace its labour-intensive manufacturing facility. The company is evaluating a project to… 50 marks
  7. Q7 (a) The following Balance Sheet is given as on 31st March, 2022 : Particulars Amount ₹ I. Equity and Liabilities 1… 50 marks
  8. Q8 (a) X Limited has its present annual sales amounting to ₹ 60 lakhs at ₹ 24 per unit. Variable costs are ₹ 16 per unit… 50 marks

Paper II

  1. Q1 (a) What are the external environmental factors that are essential to an organisation ? 10 (b) Describe the main… 50 marks
  2. Q2 (a) How is power used as a tool of organisational control ? Elaborate in detail the various sources of power. 20 (b)… 50 marks
  3. Q3 (a) How is Herzberg's "Motivation-Hygiene Theory" useful to organisations ? List any five 'Hygiene Factors' applicable… 50 marks
  4. Q4 (a) Describe 'Perceptual Process.' Explain the selection, organisation and interpretation of stimuli. 20 (b) Identify… 50 marks
  5. Q5 (a) "A good job-description leads to improved employee satisfaction." Explain. 10 (b) Explain the purpose of employee… 50 marks
  6. Q6 (a) How do Trade Unions contribute to the betterment of Employer-Employee relations ? Describe. 20 (b) "Employee… 50 marks
  7. Q7 (a) "ILO is still relevant for Modern India." Elaborate in detail. 20 (b) "Industrial Democracy functions in India… 50 marks
  8. Q8 (a) Describe the scope and relevance of HRM in organisations today. 20 (b) Describe the status of Industrial Relations… 50 marks

2022 Mains

16 questions · 800 marks

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Paper I 8 Qs · 400 marksPaper II 8 Qs · 400 marks
All 16 questions from 2022

Paper I

  1. Q1 (a) What are Sweat Equity Shares ? Under what conditions can these shares be issued by a company ? (10 marks) (b) What… 50 marks
  2. Q2 (a) Balance Sheets of A Ltd. and B Ltd. as on March 31, 2021 are as follows: | | A Ltd. (₹) | B Ltd. (₹) |… 50 marks
  3. Q3 (a) X, an employee of a firm, furnished the following particulars of his income for the year ended March 31, 2021 : ₹… 50 marks
  4. Q4 (a) The following details have been extracted from the cost records of a company : Material : 5 lbs @ ₹ 5 – ₹ 25 Labour… 50 marks
  5. Q5 (a) Explain 'Capital Asset Pricing Model'. 10 (b) Briefly explain any five risks faced by the financial institutions in… 50 marks
  6. Q6 (a) From the following data, you are required to prepare a Balance Sheet and a Statement of Profit and Loss : (a) Share… 50 marks
  7. Q7 (a) A company wishes to raise additional finance of ₹ 20 lakh for meeting its investment plans. It has ₹ 4,20,000 in… 50 marks
  8. Q8 (a) From the following information as contained in the Trading and Profit & Loss Account and Balance Sheet of X Ltd… 50 marks

Paper II

  1. Q1 (a) "MBO is a mixed blessing." Elucidate the statement. (10 marks) (b) Explain how the matrix structure breaks the… 50 marks
  2. Q2 (a) "The choice between centralization and decentralization cannot be made in isolation, none is good or bad."… 50 marks
  3. Q3 (a) Explain, with the help of the expectancy theory, why a lot of workers are not motivated on their jobs and do only… 50 marks
  4. Q4 (a) Critically evaluate the contingency theory of leadership propounded by Fiedler. How is this theory different from… 50 marks
  5. Q5 (a) Distinguish 'transfer' from 'promotion'/'demotion' and state the purposes of resorting to 'transfer'. (b) Briefly… 50 marks
  6. Q6 (a) "The approach towards Human Resource Management has undergone transformation through different stages and this… 50 marks
  7. Q7 (a) "Human Resource Planning is a prerequisite for effective management of human resources." In the light of this… 50 marks
  8. Q8 (a) Critically examine the strengths and weaknesses of industrial relations in public sector. (10+10=20 marks) (b)… 50 marks

2021 Mains

16 questions · 800 marks

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Paper I 8 Qs · 400 marksPaper II 8 Qs · 400 marks
All 16 questions from 2021

Paper I

  1. Q1 (a) Briefly explain the significance of Accounting Standard-3 (AS-3). (10 marks) (b) Discuss the importance of Employee… 50 marks
  2. Q2 (a) X Ltd. and Y Ltd. were in telecom business. Both the companies took a decision to amalgamate and a new company XY… 50 marks
  3. Q3 (a) Mr. B (49 years), a resident individual, furnishes the following particulars pertaining to the year ending 31st… 50 marks
  4. Q4 (a) ABC company produces tables. An analysis of their accounting reveals— Fixed cost ₹1,00,000 for the year Variable… 50 marks
  5. Q5 (a) What is risk-return trade-off? Explain its significance in financial decision making. (10 marks) (b) Define optimum… 50 marks
  6. Q6 (a) The Zenith Enterprises Ltd. has two investment proposals—project X and project Y. These are mutually exclusive… 50 marks
  7. Q7 (a) XYZ Co. is operating on 60% capacity, producing 48000 units per annum at the following cost price structure: Raw… 50 marks
  8. Q8 (a) A company has a capital of ₹ 100 crores with shares of ₹ 100 each. The shares are currently quoted at par in the… 50 marks

Paper II

  1. Q1 (a) Non-Verbal Communication 10 (b) Factors Affecting Quality of Work Life 10 (c) Transformational Leadership 10 (d)… 50 marks
  2. Q2 (a) "The environment is a major contingency for which an organisation must plan and to which it must adapt." Explain… 50 marks
  3. Q3 (a) "An organisation without goals is like a rudderless ship." Comment and explain the importance of goals. 20 (b)… 50 marks
  4. Q4 (a) Explain how promotion can be used as a tool to enhance job performance. 10 (b) What is the relevance of… 50 marks
  5. Q5 (a) Strike vs. Lockout 10 (b) Performance Management 10 (c) Philosophy of Workers' Participation in Management 10 (d)… 50 marks
  6. Q6 (a) Describe the importance and types of training. 20 (b) What is a good job description ? List some methods of… 50 marks
  7. Q7 (a) "Different types of tests are used in the selection of employees." Discuss. 20 (b) Discuss the implications of… 50 marks
  8. Q8 (a) "Trade unions are an impediment to the growth of industry." Do you agree ? Critically evaluate the role of trade… 50 marks

How Commerce & Accountancy answers are marked

The shape the examiner expects, what earns the marks and the traps that lose them: the same card our rubrics for this subject are written from.

Answer skeleton

  1. Format
  2. Working notes
  3. Statement
  4. Conclusion

What earns the marks

  • Show working notes; they carry the marks
  • Use the prescribed format exactly
  • Cite the Ind AS or Companies Act section
  • Paper II: structure theory answers with an example

What earns the extra mark

  • Relevant Ind AS or section number

Traps that cost marks

  • Final figures without workings
  • Wrong statement format
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