Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firmandrsquo;s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firmandrsquo;s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer?

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a)
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
b)
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
c)
Assertion (A) is true, but Reason (R) is false.
d)
Assertion (A) is false, but Reason (R) is true.

Correct answer is option 'C'. Can you explain this answer?

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Test: Class 12 Accountancy: CBSE Sample Question Papers- Term I (2021-22)

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Given below are two statements, one labelled as Assertion (A) and the ...

As per Law, the partners and partnership firm are not separate legal entities.

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Given below are two statements, one labelled as Assertion (A) and the ...

S engage in price discrimination, consumer surplus is reduced.

Reason (R): Price discrimination allows firms to charge different prices to different customer groups based on their willingness to pay.

The assertion (A) is true, and the reason (R) is the correct explanation for the assertion.

Explanation: Price discrimination is a pricing strategy where firms charge different prices for the same product or service to different customer groups. This is possible when there are differences in the willingness to pay among customers. By charging higher prices to customers who are willing to pay more, firms can increase their profits.

However, price discrimination also leads to a reduction in consumer surplus. Consumer surplus is the difference between the price that consumers are willing to pay for a product or service and the actual price they pay. When firms charge different prices to different customer groups, some customers end up paying more than their willingness to pay, which reduces their consumer surplus.

Therefore, Assertion (A) is true, and Reason (R) is the correct explanation for the assertion.

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Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer?

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Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer?.

Solutions for Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12. Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.

Here you can find the meaning of Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R):Assertion (A): When firm’s assets are not adequate to meet its liabilities, private assets of the partners can be used to meet the firm’s liabilities.Reason (R): Partnership firm has a separate legal entity.In the context of the above two statements, which of the following is correct?a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Class 12 tests.

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