1.

ASSERTION (A) : When the new partner brings his share of Goodwill in cash and it is to be paid to the existing partners privately, no entry is passed in the books. REASON (R): The intention of the partners is not to show amount/transaction relating to Goodwill for any of the reasons. Choose the correct answer (a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A) (b) Both Assertion (A) and the reason (R) are true, but the 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

Answer»

(d) Assertion (A) is false, but Reason (R) is True



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