| Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: |
| Assertion (A): Bills receivable is shown as trade receivable in the balance sheet. |
| Reason (R): Trade receivable includes both debtors and bills receivable. |
A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C) Assertion (A) is true but Reason (R) is false.
D) Assertion (A) is false but Reason (R) is true.
Correct Answer: B
Solution :
[b]
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