Residual value is the —

Related MCQs

• Depreciable amount plus residual value of a fixed asset:
• Mr. Rohit, owner of Rohit Furniture Ltd., owns a personal residence that cost ` 6,00,000, but has a market value of ` 9,00,000. During preparation of the financial statement for the business, the entire value of property was ignored and was not shown in the financial statements. The principle that was followed was
• 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
• The following are details of closing stock items in Aarvi Limited: Items Historical Cost (` in Lakh) Net Realizable Value (` in Lakh) (a) 30 27 (b) 15 18 (c) 35 35 (d) 40 45 The value of Closing Stock will be
• Value of an asset is 9 lakh, scrap value is 125000, estimated life is 10 years the cost of depreciation under straight-line method will be
• If the Assets of A ltd having Book Value of Rs 10,00,000 are taken over at Rs 15,00,000 and Liabilities having a book value of Rs 5,00,000 are taken over at Rs 4,00,000 than Purchase Consideration payable would be
• M LTD. Issued share at a face value of Rs. 100 with a premium of Rs.20 per share. The underwrting commission will be calculated on __________
• M LTD. Issued share at a face value of Rs. 100 with a premium of Rs.20 per share. The underwrting commission will be calculated on __________
• If original cost of an asset is rs. 60000 and its scrap value is Rs. 10000, its depreciable cost is
• The term ‘depletion’ applies to decrease in value of