To solve the question and determine the correct answer, let's analyze both the assertion and the reason given and their implications:

1. Assertion (A): Scholar King Bhoja enumerates Shringara as the only rasa in his work "Shringara Prakasha".
   Explanation: Bhoja's work "Shringara Prakasha" primarily focuses on the Shringara rasa, which is the emotion of love and beauty. While Bhoja emphasizes Shringara, it does not imply that he completely disregards other rasas. Thus, this statement is correct in the context of the work being discussed but does not contend with other rasas' existence as described by different scholars.
2. Reason (R): Bhoja does not acknowledge the eight rasas propounded by Bharata in the "Natyashastra".
   Explanation: The "Natyashastra" by Bharata Muni describes eight principal rasas. Although Bhoja emphasized Shringara, it's not accurate to say he completely dismisses the other rasas; he primarily focuses on Shringara for its prominence in literature and aesthetic theory rather than rejecting others. Therefore, while this statement is correct, it might not correctly explain why Bhoja focused on Shringara.

With these analyses, we conclude:

• Both (A) and (R) are correct but (R) is not the correct explanation of (A): This is the most appropriate option because while both statements hold true independently, the reason does not directly justify the assertion made about Bhoja's work. Bhoja's emphasis on Shringara is on aesthetic grounds and does not stem from a rejection of Bharata's conceptualization of eight rasas.