| Assertion [A] : |
| While calculating the Current Ratio, Loose Tools and Stores & Spares are not included in the current asset. |
| Reason [R]: |
| Loose Tools and Stores & Spares are not held for sale or conversion into cash. |
| Choose the Correct Option from the following: |
A) Assertion and Reason both are correct and Reason is the correct explanation of assertion
B) Assertion and Reason both are correct but Reason is not correct explanation of assertion
C) Only Assertion is correct.
D) Reason is correct but Assertion is not correct
Correct Answer: A
Solution :
Assertion and Reason both are correct and Reason is the correct explanation of assertion
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