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Given below are two statements, are labelled as Assertion (A) and other as Reason (R):
Assertion (A): The fixed assets in the balance sheet are required to be shown at cost less depreciation.
Reason (R): The balance sheet and profit and loss account disclose a true and fair view.
Choose the correct answer

Given below are two statements, are labelled as Assertion (A) and other as Reason (R):
Assertion (A): The fixed assets in the balance sheet are required to be shown at cost less depreciation.
Reason (R): The balance sheet and profit and loss account disclose a true and fair view.
Choose the correct answer Correct Answer Both (A) and (R) are true and (R) is correct explanation of (A)

Related Questions

An assertion and a reason are given below. Assertion: The phenomenon of nuclear fission generates great energy. Reason: The process in which a nucleus is broken into two parts is called nuclear fission. Choose the answer. A. Both Assertion and Reason are true and Reason is the correct explanation of Assertion. B. Both Assertion and Reason are true but Reason is not the correct explanation of Assertion. C. Both Assertion and Reason are false. D. Assertion is true but Reason is false.
The question contains two statement. One is Assertion (A) and the other is Reason (R). You have to examine both the statements carefully and decide whether the Assertion (A) and Reason (R) are separately true? and If so, then Reason is the correct explanation of the Assertion. Mark these items in the balance sheet.
Assertion (A) Balance sheet does not reveal ownership of business.
Reason (R) Assets are just unrefined cost.
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).  Assertion (A): Tax should not be charged on dividend income from the shareholders  Reason (R): Some economists are of the opinion that when tax has already been paid on the profit of the company and balance is distributed as dividend to the owners, tax need not be levied on them  In the light of the above two statements, choose the correct answer from the options given below  1. Both A) and R) true and R) is the correct explanation of A) 2. Both A) and R) true but R) is NOT the correct explanation of A) 3. A) is true but R) is false  4. A) is false but R) is true
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).  Assertion (A): If the firm is prepared to incur increased cost on transportation, it may be in a position to reduce its inventory cost  Reason (R) : As in such a case, the firm can use the fastest mode of transport and rush the goods / stocks to the desired warehouse, unmindful of the cost of transportation  In the context of the above two statements related to logistics management, which of the following options is correct  1. Both A) and R) true and R) is the correct explanation of A) 2. Both A) and R) true but R) is NOT the correct explanation of A) 3. A) is true but R) is false 4. A) is false but R) is true 
Direction-The question have two statements.
One is labelled as Assertion (A) and the other as Reason (R). You have to examine both the statements carefully and decide whether Assertion (A) and Reason (R) separately are true and if so then reason is the correct explanation of the assertion. Mark these items on the answer sheet.
Assertion (A): Interest payable on working capital should be treated as an item of operating expenses.
Reason (R): Interest is the cost of capital used in the business.
Given below are two statements, one labelled as Assertion (A) and the other as Reason (R):
Assertion (A): Capital expenditure is incurred for the purpose of acquiring fixed assets.
Reason (R): Capital expenditure item is shown in the asset side of the Balance sheet.
Select the correct answer:
Consider the following pairings of Non-Performing Assets (NPA) classification in India with their descriptions: 1. Substandard assets : Assets which have remained NPAs for a period less than or equal to 12 months. 2. Doubtful assets : Assets which have remained in the substandard category for a period of 12 months. 3. Loss assets : Assets which are considered uncollectible and of such little value that their continuance as a bankable asset is not warranted, although there may be some salvage or recovery value. Which out of the above pairings are correct?
The following items consist of two statements, one labeled as “Assertion (A)” and the other labeled as the “Reason (R)”. You are to examine the two statements carefully and decide if the Assertion (A) and the Reason (R) are individually true and if so whether the reason is a correct explanation of the assertion. Select your answer to these items using the codes given below and mark your answer accordingly. Assertion (A): There are many applications in which digital outputs are required to be generated in accordance with the sequence in which input signals are received. Reason (R): These belong to such applications which only depends on the present input state.
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).  Assertion (A): In the case of short-run cost behaviour, MC curve intersects AC curve at its minimum  Reason (R): While AC continues to decrease, MC begins to rise. Also, when AC is at its minimum, it is neither increasing nor decreasing. It is constant when AC is constant, it is equal to MC at the point of intersection  Choose the correct option from those below  1. Both A) and R) true and R) is the correct explanation of A) 2. Both A) and R) true but R) is NOT the correct explanation of A) 3. A) is true but R) is false 4. A) is false but R) is true 
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).
Assertion (A): Tax should not be charged on dividend income from the shareholders.
Reason (R): Some economists are of the opinion that when tax has already been paid on the profit of the company and balance is distributed as dividend to the owners, tax need not be levied on them.
In the light of the above two statements, choose the correct answer from the options given below.