1.

Assertion: Amount received by the company as share application and against which the company will certainly allot shares should be shown under the head Share application money pending allotmentReason: The application money is received before the Balance sheet date and allotment will be made after the Balance sheet date.a) Both A and R are correctb) 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 a) Both A and R are correct



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