Explanation:
Material Yield Variance measures the difference between the actual output and the standard output expected from the actual input. It is calculated as (Standard Yield - Actual Yield) x Standard Cost per unit of Yield. A positive value indicates a favorable variance.
A: A partner has the right to inspect the books of accounts of the firm. R: This right is implied in the Partnership Act, 1932. Choose the correct option.
A.A is true but R is false
B.Both A and R are true and R is the correct explanation of A
C.Both A and R are true but R is NOT the correct explanation of A
Explanation:
Every partner has the right to access and inspect the firm's books to ensure transparency and protect their interest. This right is expressly provided under Section 12(d) of the Indian Partnership Act, 1932. R correctly explains the legal basis.
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