Annual depreciation of machine is 40000, cost of machine is 500000, rate of depreciation according to straight-line method will be

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
• 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:
• A firm has a policy of changing depreciation on Plant and Machinery @ 10% under WDV Method. If the book value of Plant and Machinery was ` 81,000 on 31.03.2013. Find the original cost of the plant if the same was purchased on 01.04.2011
• In this method depreciation is charged on the cost of asset every year:
• Value of an asset is 9 lakh, scrap value is 125000, estimated life is 10 years the cost of depreciation under straight-line method will be
• When provision for depreciation account is maintained, the amount of depreciation is debited to
• XYZ has imported a machine from abroad. Which of the following is not the element of a machine’s cost?
• 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