Assertion: The frequency and period (unit of time) of preparing Cash flow projections is not fixed. Reasoning: The frequency and period (unit of time) of preparing Cash flow projections depends on the purpose for which the projection will be used.

Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A. Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. Assertion (A) is true but Reasoning (R) is not correct. Assertion (A) is not true but Reasoning (R) is correct.

Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A.