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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. |
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Answer» Correct option is c. A is correct but R is wrong |
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