The difficulty level of the exam is moderate to difficult. About 30% of the paper requires rote learning - dates, abbreviations, rates, provisions etc and rest 70% is purely application based. A thorough understanding of concepts at its fundamental level and comprehension skills to understand the tricky statements given in the exam are the two essentials needed to crack this exam. Also, solving a good number of MCQs will help in developing the knack of how questions could be raised.
There can be no predictions made on the number of questions arising from each topic as it keeps varying. So don't ever be under the notion that a certain number of questions would appear from one particular section. This exam requires a complete study of all the topics given in the syllabus. Each topic has an equal weightage so skipping even a single topic is not recommended.
One can crack it with preparing online for Paper 2 Commerce at home by making the best use of resources available and a good amount of practice.
All the best! :