Assertion (A) Accounting information refers to only events which are concerned with business firm. Reason (R) Accounting information is presented in financial statements.

Both (A) and (R) are true and (R) is the correct explanation of (A)
Both (A) and (R) are true and R is not the correct explanation of (A)
(A) is true, but (R) is false
(A) is false, but (R) is true

The correct answer is: B. Both (A) and (R) are true and R is not the correct explanation of (A)

Assertion (A) is true because accounting information is information about economic events that are recorded and reported by an organization. This information is used by decision-makers to make informed decisions about the organization.

Reason (R) is also true because financial statements are one of the main ways that accounting information is presented. However, accounting information is not limited to financial statements. It can also be presented in other forms, such as management reports and tax returns.

Therefore, both (A) and (R) are true, but (R) is not the correct explanation of (A).

Exit mobile version