Sure, here are the answers in simple language for each question:

Section A: Very Short Questions (50 Words Each)

1. Unit-1: Accounts
- Q1A. Define the Double Entry System.
A. The Double Entry System is a method of recording financial transactions where every
transaction affects at least two accounts, ensuring accuracy and balance in accounting
records.

- Q1B. Explain the purpose of Subsidiary Books in accounting.

A. Subsidiary Books are used to record specific types of transactions like sales,
purchases, and cash transactions separately before posting them to the general ledger. This
helps in maintaining organized and detailed accounting records.

2. Unit-2: Accounting for Depreciation

- Q2A. What is the significance of Accounting Standard 6 in depreciation accounting?
A. Accounting Standard 6 provides guidelines on the method of calculating and disclosing
depreciation in financial statements, ensuring consistency and comparability among different
organizations.

- Q2B. Briefly discuss the treatment of depreciation in Branch Accounts.

A. Depreciation in Branch Accounts involves calculating and apportioning depreciation
expenses for assets used in branches separately, considering their usage and wear and tear
specific to branch operations.

3. Unit-3: Royalty Accounts

- Q3A. Define Royalty Accounts and its importance in business accounting.
A. Royalty Accounts record payments made for the use of intellectual property or rights,
such as copyrights or patents. They are crucial in financial reporting as they reflect ongoing
expenses and legal obligations related to intellectual property.

- Q3B. Explain the concept of Departmental Accounts and its use in large organizations.
A. Departmental Accounts segregate financial transactions and results for different
departments within a company. This helps in assessing departmental performance, cost
allocation, and decision-making based on department-specific financial data.

Section B: Short Questions (200 Words Each)

1. Unit-1: Accounts
- Q1A. Discuss the evolution of accounting principles in India and their relevance today.
A. Accounting principles in India have evolved from traditional practices to incorporate
modern standards like Indian Accounting Standards (Ind AS), ensuring transparency,
comparability, and international alignment in financial reporting.

- Q1B. Explain the procedure of preparing Final Accounts and its components in detail.
 A. Final Accounts include the preparation of Trading Account, Profit and Loss Account,
and Balance Sheet. These components summarize a company's financial performance and
position at the end of a financial year.

2. Unit-4: Accounting for Non-Profit Organisation

- Q2A. Compare and contrast the accounting practices for Non-Profit Organizations and
Profit-Oriented Businesses.
A. Non-Profit Organizations focus on achieving social objectives rather than profitability,
leading to different accounting treatments like fund accounting and absence of retained
earnings distribution.

- Q2B. Describe the procedure for preparing Investment Accounts and its significance in
financial reporting.
A. Investment Accounts detail the acquisition, valuation, and performance of investments
held by an organization. They are vital for assessing investment profitability and compliance
with regulatory requirements.

3. Unit-5: Partnership Accounts

- Q3A. Discuss the procedures involved in the Dissolution of a Partnership Firm,
emphasizing insolvency scenarios.
A. Partnership dissolution involves settling debts, distributing assets, and terminating
business operations. Insolvency scenarios require legal procedures to handle creditors and
partners' claims.

- Q3B. Explain the steps and legal requirements involved in converting a Partnership Firm
into a Joint Stock Company.
A. Conversion to a Joint Stock Company involves drafting a conversion proposal,
obtaining shareholder approval, complying with regulatory filings, and transferring assets
and liabilities to the new corporate entity.

4. Unit-6: Computerised Accounts

- Q4A. Illustrate the steps to create a new company using accounting software, detailing
configuration and feature settings.
A. Creating a new company involves setting up company details, chart of accounts,
taxation settings, and user permissions to ensure accurate financial recording and reporting.

- Q4B. Describe the process of entering vouchers and generating reports like Cash Book,
Ledger Accounts, Trial Balance, Profit and Loss Account, and Balance Sheet.
A. Voucher entry includes recording transactions with details like date, account names,
and amounts. Reports like Cash Book, Ledgers, Trial Balance, Profit and Loss Account, and
Balance Sheet are generated to summarize financial data for decision-making and
compliance.

Section C: Long Questions (500 Words Each)

1. Unit-1: Accounts
 - Q1. Discuss the evolution and development of accounting principles in India from
historical times to the present day, focusing on their impact on modern business practices.
A. Accounting in India has evolved from ancient barter systems to sophisticated
double-entry methods. Modern accounting principles like transparency and accountability
enhance corporate governance and financial reporting standards, shaping business
practices and investor confidence.

2. Unit-3: Royalty Accounts and Departmental Accounts

- Q2. Explain the principles governing Royalty Accounts, highlighting their application in
various industries. Compare and contrast Departmental Accounts with Branch Accounts,
providing examples of their practical utility.
A. Royalty Accounts govern payments for the use of intellectual property rights, crucial in
industries like technology and entertainment. Departmental Accounts analyze
department-specific performance, while Branch Accounts monitor regional operations, each
aiding in cost control and strategic decision-making within organizations.