1.

Assertion (A): Workmen Compensation Claim in excess of Workmen Compensation Reserve is debited to Revaluation Account.Reason (R): The loss will be borne by all the partners in their new profit sharing ratio. 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 c. A is correct but R is wrong



Discussion

No Comment Found

Related InterviewSolutions