1.

Assertion: Salary paid to a partner is debited to Profit & Loss Account. Reason: Salary paid to a partner is an appropriation of profit. a) Assertion is wrong but Reason is correct. b) Assertion is correct but Reason is wrong. c) Both assertion and reason are correct. d) Both assertion and reason are wrong.

Answer»

a) Assertion is wrong but Reason is correct. 



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