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Accountancy Assertion and Reason.

Model Paper 3 · CBSE STD 12 Commerce (CBSE - English Medium). 2 questions.

Questions

Assertion and Reason.

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2 questions · timed · auto-graded

MCQ 11 Mark
Assertion (A): A company may forfeit the shares for non-payment of calls amount depend upon the Articles of Association of the company.
Reason (R): Shares can be forfeited only if it is allowed by the Articles of Association of the company.
  • A
    Both A and R are true and R is the correct explanation of A.
  • B
    Both A and R are true but R is not the correct explanation of A.
  • C
    A is true but R is false.
  • D
    A is false but R is true.
Answer
(a) Both A and R are true and R is the correct explanation of A.
Explanation:
articles of the company must authorise about the forfeiture of the shares
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MCQ 21 Mark
Assertion (A): Partnership is a business entity which is not separate from its partners in any circumstances.
Reason (R): Partners are mutual agents of each other so far as the business of the firm is concerned.
  • A
    Both A and R are true and R is the correct explanation of A.
  • B
    Both A and R are true but R is not the correct explanation of A.
  • C
    A is true but R is false.
  • D
    A is false but R is true.
Answer
(d) A is false but R is true.
Explanation:
A is false but R is true.
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Assertion and Reason. - Accountancy STD 12 Commerce Questions - Vidyadip