The portion of the acquisition cost of the asset yet to be allocated is known as

Related MCQs

• Cost of fixed asset minus accumulated depreciation expenses of the fixed asset:
• The interest lost on the acquisition of an asset is taken into account in calculating depreciation in:
• If original cost of an asset is rs. 60000 and its scrap value is Rs. 10000, its depreciable cost is
• The Income created but not yet received is known as:
• 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.
• 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
• Tick the correct match 1. Current Asset 1. Depreciation 2. Nominal A/c 2. Land 3. Non Depreciable Asset 3. Insurance A/c 4. Non Cash Expense 4. Prepaid Rent A/c
• An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-. What would be the effect on the total asset and total liabilities in the balance sheet?
• If the asset is sold, the provision for depreciation relating to the asset sold is transferred to:
• The original cost at which an asset or liability is acquired is known as --------