Concept:
Faults are classified according to the direction of slip relative to the fault plane.
Step 1: Check Assertion.
A dip-slip fault involves movement mainly along the dip direction. A wrench fault is mainly a strike-slip fault.
\[
A \text{ is not correct}
\]
Step 2: Check Reason.
Net slip on a fault may be strike-slip, dip-slip or oblique-slip depending on the movement direction.
\[
R \text{ is correct}
\]
Step 3: Final conclusion.
Assertion is incorrect, but Reason is correct.
\[
\therefore \text{Correct Answer is (D)}
\]