A circular queue has been implemented using a singly linked list where each node consists of a value and a single pointer pointing to the next node. We maintain exactly two external pointers FRONT and REAR pointing to the front node and the rear node of the queue, respectively. Which of the following statements is/are CORRECT for such a circular queue, so that insertion and deletion operations can be performed in $O(1)$ time? I. Next pointer of front node points to the rear node. II. Next pointer of rear node points to the front node.

In a circular queue implemented using a singly linked list:

1. Elements are dequeued from the FRONT and enqueued at the REAR.

2. In a singly linked circular structure, each node points to its successor node (the next element to be served after it).

3. Thus, the chain flows from FRONT $\rightarrow$ second node $\rightarrow \dots \rightarrow$ REAR$\rightarrow$FRONT.

4. Therefore, the next pointer of the REAR node points back to the FRONT node (making it circular).

This configuration allows:

• Enqueue ($O(1)$): Create a new node, set its next pointer to FRONT, update REAR->next to the new node, and update REAR.

• Dequeue ($O(1)$): Advance FRONT to FRONT->next and update REAR->next = FRONT.

Hence, statement II is correct and statement I is incorrect, making (B) the correct choice.