Depreciation amount of a fixed asset represents —

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
• Cost of fixed asset minus accumulated depreciation expenses of the fixed asset:
• 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
• If the asset is sold, the provision for depreciation relating to the asset sold is transferred to:
• When provision for depreciation account is maintained, the amount of depreciation is debited to
• Under debtors system depreciation on fixed asset is:
• Under debtors system depreciation on fixed asset is________ _______
• An ink-stand has been purchased by a firm for a nominal amount that is to last for 4 year. It should not be classified as a fixed asset under which of the following accounting principles:
• Depreciable amount plus residual value of a fixed asset:
• Under which method of depreciation annual depreciation goes on decreasing