1.

Assertion (A): Investments are recorded in the books of the firm at cost.Reason (R): Market value of investment may be equal to or lower or higher than its book value.a. Both A and R are correct and R is the correct explanation of A. b. Both A and R are correct but R is not the correct explanation of A. c. A is correct but R is wrong d. A is wrong but R is correct.

Answer»

Correct option is b. Both A and R are correct but R is not the correct explanation of A.



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