Assets which get exhausted to the extent of extraction are called ……….

Related MCQs

• Fixed Assets and Current Assets are categorized as per concept of
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• Assets acquired for long use in the business are called ………………….
• Assets acquired for short term use in the business are called……………..
• Which financial statement represents the a ccounting equation as – Assets = Liabilities + Owner’s equity?
• Which financial statement represents the accounting equation “assets = liabilities + owners’ equity”
• In case of depreciable assets are revalued, the provision for depreciation is based on
• Current assets does not include :
• A cash book with discount and bank column is called as
• The process of transfer of entries from day book to ledger is called as