Assertion (A) Cash flow statement as per the financial statements as well is incapable in revealing the overall financial position of a firm.
Reason (R) Cash is an important constituent of the working capital based on the recorded facts only.

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

Answer & Solution

Correct Answer: Option A

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Assertion (A) Cash flow statement as per the financial statements as...

Assertion (A) Cash flow statement as per the financial statements as well is incapable in revealing the overall financial position of a firm. Reason (R) Cash is an important constituent of the working capital based on the recorded facts only.

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Assertion (A) Cash flow statement as per the financial statements as well is incapable in revealing the overall financial position of a firm.
Reason (R) Cash is an important constituent of the working capital based on the recorded facts only.