Choose the correct code for the following statement being correct or incorrect.Statement I: Punctuality and team spirit among employees of an organisation has great contribution in enhancing profits of the business but they do not appear as an asset in the balance sheetStatement II: Financial statements do of reflect the correct financial position of a business.

Question

TuteeHUB · Accepted Answer

Both the statements I and II are incorrect

TuteeHUB · Answer

Both the statements I and II are corrrect

TuteeHUB · Answer

Statement I is correct, but II is incorrect

TuteeHUB · Answer

Statement I is incorrect, but II is correct

1.	Choose the correct code for the following statement being correct or incorrect.Statement I: Punctuality and team spirit among employees of an organisation has great contribution in enhancing profits of the business but they do not appear as an asset in the balance sheetStatement II: Financial statements do of reflect the correct financial position of a business.
A.	Both the statements I and II are corrrect
B.	Both the statements I and II are incorrect
C.	Statement I is correct, but II is incorrect
D.	Statement I is incorrect, but II is correct
Answer» B. Both the statements I and II are incorrect

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