Assertion (A): CSV stands for Comma Separated Values.

Reasoning (R): CSV files are common file format for transferring and storing data.

1. Both A and R are true and R is the correct explanation of A.
2. Both A and R are true but R is not the correct explanation of A.
3. A is true but R is false.
4. A is false but R is true.

Both A and R are true but R is not the correct explanation of A.

Explanation
CSV stands for Comma-Separated Values. CSV file format is commonly used for transferring and storing data in a plain text format, especially when dealing with spreadsheet or database-like information.