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Assertion (A) Sinking fund is a charge against profit and loss account.
Reason (R) Sinking fund is created for repayment of a long-term liability.

Assertion (A) Sinking fund is a charge against profit and loss account.
Reason (R) Sinking fund is created for repayment of a long-term liability. Correct Answer Both (A) and (R) are true

Related Questions

Assertion (A): Sinking fund is a charge against profit and loss account.
Reason (R): Sinking fund is created for repayment of a long-term liability.
Which of the following statements is correct?
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.
Propositions as regards the liability of the surety under the surety bond are:
1. The liability of the surety is mutually exclusive of the liability of the accused under his personal bond.
2. The liability of the surety is contingent on the liability of the accused under his personal bond the liability of the surety.
3. is limited to the amount of the surety bond.
Now which of the following is correct
Invesco Mutual Fund has launched its new fund Invesco India - Invesco Global Consumer Trends Fund of Fund. The fund will invest how much per cent of its assets in shares of Invesco Global Consumer Trends Fund?
The bar graph given below shows the cost price and selling price of 5 articles. Profit amount = Selling price – Cost price Loss amount = Cost price – Selling price Profit percent/Loss percent = [(Profit/Loss)/Cost price] × 100 Which of the following statement(s) is/are not correct? I. If the cost price of A and E gets interchanged, then there will be a loss of 24 percent on E. II. Profit earned on D is 25 percent.
The question below is followed by three statements I, II and III. You have to determine whether the data given is sufficient for answering the question. You should use the data and your knowledge of mathematics to choose the best possible answer. How many runs Sachin scored against Kashmir? I. The difference between his score against Mumbai and against Delhi is equal to the difference between the score against Delhi and against Kashmir. II. The average run he scored against all three states Delhi, Kashmir and Mumbai is 100. III. He scored 25 runs more against Mumbai than Kashmir.
A ship of height 15 meter is sinking at the rate of 1 meter/minute. This incident is happening 39 km away from the rescue team's ship, at what speed rescue team's ship should run to reach the sinking ship when 2 meter of the sinking ship is remaining to sink.
A man purchased a pen and a book. He sold the book at 10% loss and the pen at 20% profit thereby making no profit and no loss during the whole transaction. If he sold the book at 5% profit and the pen at 20% profit, he will get a profit of Rs.60. Find the cost price of the pen?
The Taxi charges in a city consist of a fixed charge together with the charge for the distance covered. For a distance of 7 km, the charge is Rs. 27 and for a distance of 5 km, the charge is Rs. 21. What is the charge per km?
Consider the following for the fund created for political purposes under the Trade Union Act, 1926. Which of the following statement(s) is/are correct?
1. No member shall be compelled to contribute to this fund.
2. The fund will be established under the Section 21 of the Trade Union Act.
3. A member who does not contribute to the said fund shall not be excluded from any benefits of the Trade Union.