Question

Assertion (A) : Payment of interest on Loan is a Revenue Expenditure
Reason (R) : Those expenditure which neither create any assets nor reduce any liabilities are called revenue expenditure

(a) Only Assertion (A) is true and Reason (R) is false

(b) Both Assertion (A) and Reason (R) are true but (R) is not the correct explanation of (A)

(c) Both Assertion (A) and Reason (R) are true and (R) is the correct explanation of (A)

(d) Assertion (A) is false but Reason (R) is true​

Answer 1

Answer:

(c) is the correct answer