Question

Assertion (A)
A firm has right to keep assets in its own name.
Reason (R)
Assets of the firm are joint property of all partners.
In the context of the above two statements, which of the following is correct?

Both (A) and (R) are correct and (R) is the correct reason of (A).
Both (A) and (R) are correct but (R) is not the correct reason of (A)
Only (R) is correct.
Both (A) and (R) are wrong.​

Answer 1

Answer:

both A and R are correct but R is not the correct reason of A