The cost of a Fixed Assets of a business has to be written off over its

Related MCQs

• The excess amount which the firm can get on selling its assets over and above the saleable value of its assets is called Sol:
• 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 accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is
• Which of the term is used to write off in reference to tangible fixed assets.
• 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
• Fixed assets are held by business for _____:
• Recording of Fixed Assets at cost ensures adherence of
• Cost of fixed asset minus accumulated depreciation expenses of the fixed asset:
• 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