Chartered accountant is obviously a good choice for carrier option as engineers and other professions are facing a lot of unemployment nowadays basically in India. CAs not even entered that phase. Moreover, economy is going to demand more CAs in future. Undoubtedly, there will always be a rising demand for CA professionals due to growing number of companies in India. CA can choose to start up their own independent practice or make their clients on the basis of merit. They can also apply for the job of Chartered Accountant in an existing firm. They can also give their services for the capital market. The qualified CA can apply for a government job, public or private sectors both. So considering all Chartered accountant is undoubtedly a good choice.
Question : Assertion A:- In many situations, the accountant has to make a choice out of alternatives available, e.g., choice in the method of inventory valuation, choice in the method of depreciation (straight line or written down value)
Reason R: - The subjectivity is inherent in personal judgment, the financial statements are, therefore, not free from bias. It is a limitation of financial statements.
Option 1: Both Assertion A and reason R are correct but reason R is not the correct explanation of Assertion A
Option 2: Both Assertion A and reason R are correct but reason R is the correct explanation of Assertion A
Option 3: Both Assertion A is correct but the reason R is not correct
Option 4: Both Assertion A and reason R are not correct
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