Q2005
Given below are two statements, one labelled as Assertion (A) and the other as Reason (R) Assertion (A): Gross profit ratio is calculated on the basis of net sales. Reason (R): Gross profit ratio measure overall profitability of a concern. Choose the correct answer:
A.
Both (A) and (R) are true and (R) is correct explanation of (A)
B.
Both (A) and (R) are true but (R) is not be correct explanation of (A)
C.
(A) is true but (R) is false
AnswerD.
(A) is false but (R) is true
Answer: Option C
Solution
Answer: Option C
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