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Accounting Ratios — Accountancy STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceAccountancyAccounting Ratios1 Mark
Question
Assertion [A] :
While calculating the Current Ratio, Loose Tools and Stores & Spares are not included in the current asset.
Reason [R]:
Loose Tools and Stores & Spares are not held for sale or conversion into cash.
Choose the Correct Option from the following:
✓

Answer

Assertion and Reason both are correct and Reason is the correct explanation of assertion

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