| Assertion (A) : |
| When partners Capitals are fixed, Asset taken over by the partner will be shown in the debit side of his capita account instead of his current account. |
| Reason (R) : |
| Fixed Tangible Asset taken over by the partner will be considered as withdrawal of capital, in the absence of any other information. |
| 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) Both Assertion and Reason are not correct
D) Only Assertion is correct
Correct Answer: A
Solution :
Assertion and Reason both are correct and Reason is the correct explanation of assertion
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