Assertion :The auditor of a partnership firm is appointed under a contract with firm but not under any statute. Reason: The firm can also appoint him to act as an accountant for preparation of accounts.

Both Assertion and Reason are correct and Reason is the correct explanation for Assertion

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Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion

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Assertion is correct but Reason is incorrect

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Assertion is incorrect but Reason is correct

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Solution

The correct option is B Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion
Every auditor of a company shall have a right of access at all times to the.stated in the account books and the balance sheet is correct, regular and not by him and on every financial statements which are required by or under this Act account the provisions of this Act, the accounting and auditing standards.

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