Under hire purchase system depreciation is charged:

Related MCQs

• Which of the following statements is true with regard to written down value method of depreciation? i. The rate at which the asset is written off reduces year after year ii. The amount of depreciation provided reduces from year to year iii. The rate of depreciation as well as the amount of depreciation reduce year after year iv. The value of the asset gets reduced to zero over a period of time
• When an asset is acquired on hire purchase system, the asset account is debited with _______ of the assets in the books of the hire purchaser.
• Fixed assets purchased on hire purchased on hire purchase terms are recorded at
• In the hire purchase system interest charged by vendor is calculated on the basis of
• What is transferred to hirer under hire purchase system
• In Hire Purchase system cash price plus interest is known as
• KCS purchased a machine from JPS on hire purchase system, whose cash price was `8,64,000. ` 2,16,000 being paid on delivery and balance in three annual instalments of `2,88,000 each. The amount of interest included in first installment would be
• Under which method of depreciation annual depreciation goes on decreasing
• Under which method of depreciation annual depreciation fluctuate with the volume of production
• Hire purchase act is