Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R).
Assertion (A) : 'Interest accrued but not due on borrowings' is shown under' other current liabilities'.
Reason (R) : All liabilities, of which payment is expected to be made within 12 month from the date of Balance Sheet, shall be treated as current.
In the context of the above statements, which one of the following is correct?
1
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
2
Both Assertion (A) and Reason (R) are true, and Reason (R) is the not correct explanation of Assertion (A).
3
Assertion (A) is true, but Reason (R) is false.
4
Assertion (A) is false, but Reason (R) is true.
5
Question Not Attempted