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Assertion (A): Akhil Ltd issued equity shares to Sunny Ltd for consideration other than cash.Reason (R): Akhil Ltd did not receive cash from Sunny Ltd for issue of shares on purchase of running business.(A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation ofAssertion (A)(B) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanationof Assertion (A)(C) Assertion (A) is true but Reason (R) is false.(D) Assertion (A) is false but Reason (R) is true. |
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Answer» Correct option is (A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A) |
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