The question contains two statement. One is Assertion (A) and the other is Reason (R). You have to examine both the statements carefully and decide whether the Assertion (A) and Reason (R) are separately true? and If so, then Reason is the correct explanation of the Assertion. Mark these items in the balance sheet.<br>Assertion (A) Balance sheet does not reveal ownership of business.<br>Reason (R) Assets are just unrefined cost.

Correct Answer: A and R both are correct and R is correct explanation of A