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A depreciable asset may suffer obsolescence due to ______. - Accountancy

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प्रश्न

A depreciable asset may suffer obsolescence due to ______.

पर्याय

  • Passage of time

  • Wear and tear

  • Technological changes

  • None of the above.

MCQ
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उत्तर

A depreciable asset may suffer obsolescence due to technological changes.

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पाठ 10: Depreciation Accounting - Multiple choice questions [पृष्ठ २२३]

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सामाचीर कलवी Accountancy [English] Class 11 TN Board
पाठ 10 Depreciation Accounting
Multiple choice questions | Q I 6. | पृष्ठ २२३

संबंधित प्रश्‍न

Answer in One Sentence only:

What is the formula to calculate depreciation by Straight Line Method?


State whether the following statement is True or False with reasons:

The Profit or Loss on sale of fixed asset is ascertained only after charging depreciation.


Complete the following sentence:

Depreciation is charged on ______ asset.


Complete the following sentence:

Under ______ system, the amount of depreciation changes every year.


Depreciation is to be calculated from the date when ______.


List out the various methods of depreciation.


Give the formula to find out the amount and rate of depreciation under straight line method of depreciation.


Samarth Manufacturing Co. Ltd, Aurangabad, purchased a New Machinery for ₹ 45,000 on 1st Jan 2015 and immediately spent ₹ 5,000 on its fixation and erection. In the same year, 1st July additional Machinery costing ₹ 25,000 was purchased. On 1st July 2016, the Machinery purchased on 1st Jan 2015 became obsolete and was sold for ₹ 40,000.
Depreciation was provided annually on 31st March at the rate of 10% per annum on the Fixed Instalment Method.
You are required to prepare Machinery Account for the year 2014-15, 2015-16, 2016-17.


On 1st April 2015, Farid of Nasik purchased a Motor Car for ₹ 55,000. The scrap value of the Motor Car was estimated at ₹ 10,000 and its estimated life is 10 years. The Registration charges of the Motor Car was ₹ 5,000.

Show Motor Car Account for first four years, assuming that the books of accounts are closed on 31st March every year.


Which depreciation method helps a firm accumulate funds for replacing an asset after its useful life?


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