Assertion (A): The net assets purchased from Sunny Ltd was Rs.23,50,000 and Akhil Ltd issued in return its equity shares at a premium of 10% for a sum of Rs.22,00,000, the difference being capital profit.Reason (R): The difference Rs.1,50,000 is credited to statement of Profit &Loss.(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.

Assertion (A): The net assets purchased from Sunny Ltd was Rs.23,50,00

1.	Assertion (A): The net assets purchased from Sunny Ltd was Rs.23,50,000 and Akhil Ltd issued in return its equity shares at a premium of 10% for a sum of Rs.22,00,000, the difference being capital profit.Reason (R): The difference Rs.1,50,000 is credited to statement of Profit &Loss.(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.
Answer» Correct option is (C) Assertion (A) is true but Reason (R) is false

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