(a) State with reasons, whether the following statements are True or False: (i) A claim that an enterprise is pursuing through legal process, where the outcome is uncertain, is a Contingent Liability.. (ii) At the end of the accounting year, all the nominal accounts of the ledger book are balanced. (iii) The specific due date excludes the addition of grace days to arrive at the due date. (iv) Any amount spent for replacement of worn out part of a machine is capital expenditure. (v) Debentures Suspense Account appears on the Liability side of the Balance Sheet of a Company. (vi) If the errors are detected after preparing trial balance, then all the errors are rectified through suspense account. (6 x 2 = 12 Marks) (b) Briefly explain the following Concepts of Accounting: (i) Money Measurement Concept (ii) Periodicity Concept. (4 Marks) (c) One of your clients Mr. X asked you to finalize his account for the year ended 31st March, 2022. As a basis for audit, Mr. X furnished you with the following statement: Dr. Cr. 4,668 X's Capital X's Drawings Leasehold Premises Sales Due from customers Purchases Purchase Retum 1,692 2,250 3,777 792 8,250 1,590 Loan from Bank Trade Expense Trade Payable Bills Payable Salaries and Wages Cash at Bank Opening Inventory Rent and Rates Sales Return 2,100 1,584 300 1,800 678 1,389 768 792 294 16,362 16,362 The closing inventory was 1,722. Mr. X claims that he has recorded every transaction correctly as the trial balance is tallied. Check the accuracy of the above trial balance and give reasons for the errors, if any. (4 Marks)