Assertion: A trading company sells its fixed assets through an agent. The agent is to be paid Rs.50,000 as fee which can be shown as Trade payables in the Balance sheetReason: Trade payables are defined as the amount payable against purchase of goods or services taken in the normal course of business and includes both sundry creditors and bills payable. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong

Assertion: A trading company sells its fixed assets through an agent.

1.	Assertion: A trading company sells its fixed assets through an agent. The agent is to be paid Rs.50,000 as fee which can be shown as Trade payables in the Balance sheetReason: Trade payables are defined as the amount payable against purchase of goods or services taken in the normal course of business and includes both sundry creditors and bills payable. a) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong
Answer» Correct option is c) A is wrong, but R is correct

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