Depreciation of loose tools is provided by

Related MCQs

• 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
• Loose tools are shown in the balance sheet under
• loose tools are shown in the B/S under the head.
• When provision for depreciation account is maintained, the amount of depreciation is debited to
• Under which method of depreciation annual depreciation goes on decreasing
• Under which method of depreciation annual depreciation fluctuate with the volume of production
• For providing depreciation on leasehold property, the appropriate method of depreciation is:
• Annual depreciation of machine is 40000, cost of machine is 500000, rate of depreciation according to straight-line method will be
• The depreciation of Fixed Assets is converted at rate________________
• the depreciation charged on an asset is debited to