Practicing Success
There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below. Assertion (A): Firm's debts are the debts that firm owes to its outsiders. |
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). Both 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. |
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A). |
Private Debts and Firm’s Debts: Firm's debts are debts owed by the firm to outsiders and Private debts are debts owed by the partners to outsiders. |