1.

Assertion: Since declaration of proposed (final) dividend is contingent upon shareholders’ approval, Proposed dividend is shown as contingent liability.Reason: proposed dividend of previous year will be accounted in the current year before it is declared (approved) by the shareholders in their annual general meeting. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong

Answer»

Correct option is b) A is correct, but R is wrong



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