Q.
1

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.

Codes:

 

  • A

    (A) is correct, but (R) is wrong

  • B

    Both (A) and (R) are correct

  • C

    (A) is wrong, but (R) is correct

  • D

    Both (A) and (R) are wrong