question_answer

Assertion :

While preparing Notes to Accounts on Share Capital, Calls-in-Arrears is shown by way of deduction from the Subscribed Capital (Subscribed but not fully paid-up).

Reason (R) :

As per the Companies Act, 2013, Part I of me Schedule III, Calls in Arrears is the other current asset of the company.

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