Please select a subject first
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Answer in One Sentence only:
Why depreciation is charged even in the year of loss?
Concept: undefined >> undefined
Answer in One Sentence only:
Which account is credited when depreciation is charged?
Concept: undefined >> undefined
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Answer in One Sentence only:
What is the formula to calculate depreciation by Straight Line Method?
Concept: undefined >> undefined
Answer in One Sentence only:
What is Fixed Instalment Method?
Concept: undefined >> undefined
Answer in One Sentence only:
Which account is debited when expenses are paid on installation of Machinery?
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
The period for which the asset remains in working condition.
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
The method of depreciation in which the total depreciation is equally spread over the life of the asset.
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
The method of depreciation in which the rate of depreciation is fixed but the amount of depreciation reduces every year.
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
The type of asset on which depreciation is charged.
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
Expenses incurred for fixation of the new asset to bring it in working condition.
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
Excess of Selling price of fixed asset over its Written Down Value.
Concept: undefined >> undefined
Write the word/term/phrase which can substitute the following statement:
Method of depreciation that cannot reach to zero value.
Concept: undefined >> undefined
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
Depreciation is charged only on ______ assets.
Concept: undefined >> undefined
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
The amount spent on installation of new machinery is a ______ expenditure.
Concept: undefined >> undefined
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
The amount that a fixed asset is expected to realise on its disposal is known as ______
Concept: undefined >> undefined
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
The amount of depreciation reduces year after year under ______
Concept: undefined >> undefined
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
The amount of depreciation remains constant every year under ______
Concept: undefined >> undefined
State whether the following statement is True or False with reasons:
Depreciation is charged on fixed assets.
Concept: undefined >> undefined
State whether the following statement is True or False with reasons:
Depreciation increases the value of the asset.
Concept: undefined >> undefined
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.
Concept: undefined >> undefined
