Assertion (A): Article 280(2) of the Constitution states that Parliament may by law determine the qualifications which shall be requisite for appointment as members of the Commission and the manner in which they shall be selected. The President does not determine the qualifications; Parliament does so by law. Thus, Assertion (A) is false. Reason (R): Article 280(1) states that the President shall constitute a Finance Commission. The Chairman and members of the Finance Commission are appointed by the President of India. Thus, Reason (R) is true.