it uses, the amounts that are owing to it, the amount that it owes to others, the profit or loss it has made and the capital it employs. Without a scientific system of accounting no businessman can be fully prepared of his real financial position and run his organisation.

Dhani Mani Bank is a private sector bank offering verious serices to its customers, It offers verious type of bank account options to its customers. Rakesh being a businessmen has chosen the type of account in which the deposite are the most liquid and there are no limit to the number of transactions or the amount of transactions in a day. On the other hand, his mother has opened a type of account where she can conveniently deposit the money whe saves. she has ot cheque facility and lot of flexibility for deposits and withrawal where as Rakesh's sister Reema opened the account where she will deposit Rs 2000 per mouth for next two years. In the context of the above case: 1 . Identify the verious type of bank acounts used by Rakesh and his family. 2. Decribe briefly two other types of accounts.

Mr. A commenced business with a capital of RS.2,50,000 on 1st April, 2013. During the five years ended 31st March, 2018, the following profits and losses were made: {:(31st"March"2014-"Loss " "RS.5,000",31st "March,2017"-"Profit " "RS.20,000"),(31st "March,2015-Profit RS.13,000","31stMarch,2018-Profit RS.25,000"),(31st "March, 2015-Profit" "RS.17,000",):} During this period he had drwan RS.40,000 for his personl use. On 1st April, 1st April, 2018, he admitted B into partnership on the following terms: B to bring for his half share in the business, capital equal to A's Capital on 31 st March, 2018, he and to pay for the one-half share of goodwill of the business, on the basis of three times the average profit of the last five years. Prepare the statement showing what amount B should invest to become a partner and pass entries to record the transactions relating to admission.

Financial statements are prepared following the consistent accounting concepts, principles, procedures and also the legal environment in which the business organisations operate. These statements are the sources of information on the basis of which conclusions are drawn about the profitability and financial position of a company so that their users can easily understand and use them in their economic decisions in a meaningful way. From the above statement, identify any two values that a company should observe while preparing its financial statement. Also, state under which major headings and sub-headings the following items will be presented in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013: (i) Capital Reserve, (ii) Calls-in-Advance, (iii) Loose Tools, and (iv) Bank Overdraft.

Monoj is running a general store under the name 'Daily needs' in a local market. He takes all dicisions about business himself. Without any interference from others and get all the profit as a reward for bearing the full risk. In the context of above case. (i) Identify and define the form of business organisation in which Manoj has formed his business. (ii) State any four features of that form.