ASSERTION: The capital market is an organised market consisting of the suppliers and users of funds and the agencies and institutions which assist in the flow of funds. REASONING: Owned funds refer to the funds raised through debentures and loans from banks, financial institutions, and public deposits.

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A is true, but R is false. Explanation: • The assertion is true because the capital market links suppliers, users and supporting institutions. • The reasoning is false because owned funds refer to owners’ capital (shares, retained earnings); debentures, bank loans, and public deposits are borrowed funds.

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