Question : Assertion (A) : Ashish and Deepak were partners sharing profits and losses equally They admit shared as a partner for 1/5 th share. Goodwill as valued at 1,00,000. Ashish nd Deepak will be compensated by Vinod paying goodwill of ' 10,000 each..

Reason (R): Both Ashish and Deepak have sacrificed equally, since Vinod has taken 1/5 th share from Ashish and Deepak in equal proportion i.e., 1/10 th share each, he will compensate such by paying goodwill of 10,000 being equal to 1/10 th of 1,00,000.

In the context of above two statements, which of the following is correct?

Option 1: Assertion (A) and Reason (R) are correct but the Reason (R) is not the correct explanation of Assertion (A).

Option 2: Both, Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation Assertion (A).

Option 3: Assertion (A) is correct but the Reason (R) is not correct.

Option 4: Assertion (A) is not correct but the Reason (R) is correct.

Question : Assertion (A): Amit and Sumit were partners sharing profits and losses equally They admitted Vinod as a partner for 1/5th share Goodwill was valued at Rs 2,00,000 Amit and sumit will be compensated by Vinod paying goodwill off Rs 20,000 each.

Reason (R): Both Amit and Sumit have sacrificed equally. Since Vinod has taken 1/5th share from Ashish and Deepak in equal proportion, re, 1/10th share each he will compensate each by paying goodwill of Rs 10,000 being equal to 1/10th of Rs. 2,00,000

In the context of the above two statements, which of the following is correct?

Option 1: (A) is correct, butt (R) is wrong. 

Option 2: Both (A) and (R) are correct. 

Option 3: (A) is wrong, but (R) is correct. 

Option 4: Both (A) and (R) are wrong.

Question : Assertion A :- Redemption of preference share at a premium will result in outflow of cash Reason: - Redemption of preference share decrease cash and cash equivalents

Option 1: Assertion A and reason R are correct and reason R is the correct explanation of assertion A

Option 2: Assertion A and reason R are correct but reason R is not the correct explanation of Assertion A

Option 3: Both assertion A and reason R are not correct

Option 4: Assertion A is correct but the reason R is not correct

Question : Assertion A :- Redemption of preference share at a premium will result in outflow of cash Reason: - Redemption of preference share decrease cash and cash equivalents

Option 1: Assertion A and reason R are correct and reason R is the correct explanation of assertion A

Option 2: Assertion A and reason R are correct but reason R is not the correct explanation of Assertion A

Option 3: Both assertion A and reason R are not correct

Option 4: Assertion A is correct but the reason R is not correct

Question : Assertion (A): A new business is likely to have lesser goodwill.
Reason (R): Goodwill is an intangible asset.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is false

Option 4: Assertion (A) is false but Reason (R) is true

Question : Assertion (A): Goodwill belongs to the category of intangible assets such as patents, trademarks, copy rights, etc.
Reason (R): Goodwill cannot be seen or touched.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is false

Option 4: Assertion (A) is false but Reason (R) is true