Accounting for Fixed Assets is related to

Related MCQs

• The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is
• Which of the following is true statement for computerised accounting system? a. the computer accounting system is based on the concept of database. b. Computer accounting system does not away with the concept of creating and maintaining journals, ledger etc.
• Accounting procedures and accounting practices should remain same from year to year under which of the following accounting principles:
• When a branch purchases fixed assets and the assets account is to be kept in the books of the head office, the branch makes the following entry
• Fixed Assets and Current Assets are categorized as per concept of
• The proceeds of assets not specifically pledged & nthe surplus of the assets specifically pledged is first available for_________________
• The proceeds of assets not specifically pledged & nthe surplus of the assets specifically pledged is first available for_________________
• A charge created not on specific assets but generally on all assets is known as………….
• Long term assets being `3,00,000, current Assets `80,000, outside liabilities `1,20,000. Find owners equity-
• The excess amount which the firm can get on selling its assets over and above the saleable value of its assets is called Sol: