Question : Assertion (A):  Shares cannot be allotted unless a minimum subscription is received.
Reason (R): SEBI has prescribed that a company issuing shares to the public cannot allot shares unless it receives a subscription of 90% of the shares issued.
In the context of the above two statements, which of the following is correct?

Option 1: Asseration A  and Reason R are correct but the reason R is not 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 Reason R is correct

Question : Assertion (A):  Shares cannot be allotted unless a minimum subscription is received.
Reason (R): SEBI has prescribed that a company issuing shares to the public cannot allot shares unless it receives a subscription of 90% of the shares issued.
In the context of the above two statements, which of the following is correct?

Option 1: Asseration A  and Reason R are correct but the reason R is not 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 Reason R is correct

Question : Assertion A: Premium Received on the issue of shares is credited to the Securities Premium Account.

 Reason R: Securities premium is a reserve hence, may be credited to the General Reserve.

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

Option 1: Asseration A  and Reason R are correct but the reason R is not 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 Reason R is correct

Question : Assertion A: Premium Received on the issue of shares is credited to the Securities Premium Account.

 Reason R: Securities premium is a reserve hence, may be credited to the General Reserve.

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

Option 1: Asseration A  and Reason R are correct but the reason R is not 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 Reason R is correct

Question : Assertions A: Called-up capital means share capital called by the company on the subscribed shares.
Reason R: When a company issues shares on an amount that is receivable in installments, it calls upon the shareholders to pay the amount as called, thus it is the called-up capital.
In the context of the above two statements, which of the following is correct?

Option 1: Asseration A  and Reason R are correct but the Reason R is not 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 Reason R is correct

Question : Assertions A: Called-up capital means share capital called by the company on the subscribed shares.
Reason R: When a company issues shares on an amount that is receivable in installments, it calls upon the shareholders to pay the amount as called, thus it is the called-up capital.
In the context of the above two statements, which of the following is correct?

Option 1: Asseration A  and Reason R are correct but the Reason R is not 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 Reason R is correct