| Directions (Q. Nos. 1-5): Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: |
| Assertion (A): Increase in value of asset is debited to revaluation account |
| Reason (R): Revaluation account is credited on increase in value of plant and machinery. |
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]
You need to login to perform this action.
You will be redirected in
3 sec
