Expenditures in respect of certain types of assets whose usefulness does not expires in the year of their occurrence but generally expires in the near future are called

Related MCQs

• Capital expenditures are the expenditures incurred for the:
• A charge created not on specific assets but generally on all assets is known as………….
• It is generally assumed that the business will not liquidate in the near foreseeable future because of
• 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
• At the end of the accounting year the capital expenditures are shown in the
• Loss of usefulness occasioned by improved production methods is known as____
• The excess amount which the firm can get on selling its assets over and above the saleable value of its assets is called Sol:
• 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 trader has credited certain items of sales on approval aggregating ` 60,000 to Sales Account. Of these, goods of the value of `16,000 have been returned and taken into stock at cost ` 8,000 though the record of return was omitted in the accounts. In respect of another parcel of ` 12,000 (cost being `6,000) the period of approval did not expire on the closing date. Cost of goods lying with customers should be