Assertion and reason based MCQ for Accounts Chapter 2 – Fundamental of Partnership, Chapter 3 – Goodwill & Chapter 4 Change in Profit Sharing Ratio
Directions: In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
(i) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
(ii) Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
(iii) Assertion (A) is true, but Reason (R) is false.
(iv) Assertion (A) is false, but Reason (R) is true.