Question : Assertion (A): Purchase of Stock in Trade on credit will not result in Flow of Cash or Cash Equivalents.

Reason (R): Purchase of Stock in Trade on credit does not involve cash.

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

Option 1: Assertion (A) and Reson (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 of Assertion (A)

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

Option 4: Both, Assertion (A) and Reason (R) are correct

Question : Assertion: A purchase of furniture on credit will not result in flow of cash or cash equivalents
Reason R: - purchased of furniture on credit will not involve cash.

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

Option 1: Assertion A and reason R are correct and reason R is 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 purchase of furniture on credit will not result in flow of cash or cash equivalents
Reason R: - purchased of furniture on credit will not involve cash.

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

Option 1: Assertion A and reason R are correct and reason R is 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): Cash Flow statement is a substitute for income statement.

Reason (R): Cash Flow Statement does not show Profit and Loss.

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

Option 1: Assertion (A) and Reson (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 of Assertion (A)

Option 3: Only Assertion (A) is correct

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

Question : Assertion A:- The cash flow statement and income statement are the same.
Reason R:- The cash flow statement does not show the profit and loss account.

Option 1: Assertion A and reason R are correct and reason R is 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