A company has bought patents. Which of the following methods is most suitable for providing depreciation on them?

Related MCQs

• The auditor has serious concern about the going concern of the company. It is dependent on company’s obtaining a working capital loan from a bank which has been applied for. Then management of the company has made full disclosure of these facts in the notes to the balance sheet. The auditor is satisfied with the level of disclosure. He should issue_
• The client changed method of depreciation from straight line to written down value method. This has been disclosed as a note to the financial statements. It has an immaterial effect on the current financial statements. It is expected, however, that the change will have a significant effect on future periods. Which of the following option should the auditor express?
• In order to vouch bought ledger, the auditor obtain confirmations from creditors. The principal reason for the auditor to examine suppliers statements at balance sheet date is to obtain evidence that
• Schedule XIV has prescribed rates of depreciation for double shift and triple shift working for which one of the following assets?
• Depreciation does not arise form _______
• The auditor should state the reasons for his reservations in audit report and should try to quantify the effect on them. This should be done in case he has expressed _ i) A qualified opinion ii) an unqualified opinion with emphasis of matter paragraph iii) An adverse opinion IV) a disclaimer of opinion
• Auditor of a _____ company does not have right to visit foreign branches of company.
• In case the directions fail to appoint first auditor (s), the shareholders shall appoint them at…..by passing a resolution
• Section 227(2) of the Companies Act, requires the auditor to give his report to the members of the company on certain matters. Which of the following is not included in the above?
• Who out of the following cannot be appointed as a statutory auditor of the company?