ASSERTION: The words “as on” have a lot of significance in the Balance Sheet. REASONING: Even a single transaction will make a difference in its contents.

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KollegeApply · Accepted Answer

A is true, and R is the correct explanation for A. Explanation: “As on” denotes a point‑in‑time snapshot of financial position; balances reflect transactions up to that date. Even a single transaction can change those balances, so R correctly explains why A is significant.

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