Assertion: The compilations of the teachings of Buddha were known as Tripitaka.
Reason: Three baskets were used to hold and keep these compilations in the viharas.

The Assertion is correct but the Reason is incorrect.

The teachings of the Buddha and other revered teachers were primarily conveyed orally through discussions and debates. Men and women, and possibly even children, attended these discourses and engaged in discussions about what they heard. Interestingly, none of the Buddha's speeches were written down during his lifetime. However, after his passing in the fifth or fourth century BCE, his disciples compiled his teachings during a council of "elders" or senior monks at Vesali (present-day Vaishali, Bihar). These compilations were collectively known as the Tipitaka, signifying three baskets that contained different types of texts. Initially transmitted orally, they were later written down and classified based on their length and subject matter.