| Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: |
| Assertion (A): Gross profit is the sum of Revenue from operations and cost of revenue from operations. |
| Reason (R): Gross profit helps in fixing selling prices and assessing efficiency of trading activities. |
A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C) Assertion (A) is true but Reason (R) is false.
D) Assertion (A) is false but Reason (R) is true.
Correct Answer: D
Solution :
[d]
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