CUET Preparation Today
There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below. Assertion (A): A loan from the spouse of a partner is considered an external liability. |
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). Assertion (A) is true but Reason (R) is False. Both Assertion (A) and Reason (R) are not correct. |
Assertion (A) is true but Reason (R) is False. |
The correct answer is option 3- Assertion (A) is true but Reason (R) is False. Assertion (A): A loan from the spouse of a partner is considered an external liability. THIS IS TRUE. A spouse's loan is just like a loan from a third party so it is an external liability. Reason (R): It is shown on the debit side of realisation A/c. THIS IS FALSE. Spouse loan is a third party liability so it is shown on the credit side of realisation account. |
