…………….is the residual interest in the asset of an entity after deducting all liabilities

Related MCQs

• …..are resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.
• A statement showing information on increase or decrease in net asset or wealth of an entity is called…
• Carrying amount of an asset as on 1st April 2015 is Rs. 1500000 and depreciation for the year 2015 – 2016 is 15000. Fair value of the asset less cost of disposal as on 31 March 2016 is Rs. 120000. Which of the following is the carrying amount at 1st April 2106?
• Adjustment of the carrying amount of an asset or liability or the consumption of an asset is defined as,
• When the recoverable amount of an asset is less than its carrying value in the statement of financial position, the asset is said to be
• An entity must measure its Property, Plant and Equipment after initial recognition at,
• Which of the following is not a requirement for current liabilities?
• Which method depreciation is most appropriate for the entity to compute depreciation for the significant parts of the aircraft?
• An entity assesses inventories for impairment,
• Total borrowings used for construction of an office building are Rs.30, 00000. Entity issued 8% debentures worth 10,00000 for this purpose and balance amount was utilized from its common pool including 10% bank loan of Rs.1000000 and 9.5% bank loan of Rs.1000000. What is the amount of borrowing cost to be capitalized?