On dissolution of a firm, if goodwill does not appear in the Balance Sheet of the firm, it is

Which of the following is not a business activity?

In the absence of any contract to the contrary, profit on dissolution of a partnership firm is credited to the partner's capital accounts:

Assertion (A): Premium receivedon issue of shares is credited to share premium account but not to profit and loss account.
Reason (R): Since share premium is not a trading profit, it is not distributed to shareholders.