1.

Assertion (A): Reserves cannot appear at the same amount in the Balance Sheet of the reconstituted firm.Reason (R): Reserves are to be distributed among partners in their old ratio. a. Both A and R are correct and R is the correct explanation of A. b. Both A and R are correct but R is not the correct explanation of A. c. A is correct but R is wrong d. A is wrong but R is correct.

Answer»

Correct option is d. A is wrong but R is correct.



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