Reduction in value of asset due to its continuous use is treated as

Related MCQs

• The value of an asset after deducting depreciation from the historical cost is known as
• Loss leads to reduction in …………………………………..
• In case of not for profit making concern, endowment fund receipt is treated as
• Endowment fund receipt is treated as
• X of Delhi send out certain goods at cost + 25% of cost. Invoice value of goods is 1,20,000. 4/5th of the goods were sold by consignee at 1,00,000. Commission @ 2% up to invoice value and 10% of any surplus above invoice. The amount of commission will be
• X sends out certain goods to Y, costing 1,50,000 at cost plus 25% on invoice price. ¾ of the goods were sold by R at 1,76,000. Commission 5% upto invoice value a nd 10% of any surplus above invoice value. The amount of commission will be
• Credit purchase of fixed asset is recorded in
• On which of the following asset, depreciation is charged on ‘Depletion method’
• Purchase of a fixed asset on credit basis is recorded in …………….
• …………….. is an example of wasting asset