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ACCOUNTS (Maximum Marks: 80) (Time allowed: Three hours) (Candidates are allowed additional 15 minutes for only reading the paper. They must NOT start writing during this time.) ---------------------------------------------------------------------------------------------------------------Part I of Section A is Compulsory. Answer any 4 Questions from Part II of Section A and any two questions from either Section B or Section C. The intended marks for questions or parts of questions are given in the brackets [ ]. Transactions should be recorded in the answer book. All calculations should be shown clearly. All working, including rough work, should be done on the same page as, and adjacent to, the rest of the answer. ---------------------------------------------------------------------------------------------------------------- SECTION A PART I (12 Marks) Answer all questions. [6  2] Question 1 Answer briefly each of the following questions: (i) Give any two differences between Revaluation Account and Realisation Account. (ii) Mention whether the following Trade Payables are current liabilities or non-current liabilities: Operating Cycle Expected period of Payment (a) 12 months 14 months (b) 15 months 12 months (iii) What is the minimum price at which a company can reissue its forfeited shares which were originally issued at par? (iv) Give the adjusting entry and closing entry for interest on loan taken by a partner from the firm, when the firm follows the Fluc ...
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