Question
Identify the scheme which consolidate the existing rural
road network by upgradation of existing ‘Through Routes’ and ‘Major Rural Links’ and connects gramin agricultural markets, higher secondary schools and hospitals?Solution
Under PMGSY III, it is proposed to consolidate 1,25,000km road length in states. The duration of scheme is 2019-20 to 2024-25. It connects gramin agricultural markets, higher secondary schools and hospitals.
A company purchases machinery for ₹50 lakhs with a useful life of 10 years and salvage value of ₹5 lakhs. The company uses straight-line depreciatio...
Under AS 6, which of the following cannot be considered a method of depreciation?
A machinery costing ₹10 lakhs has a useful life of 5 years and a salvage value of ₹1 lakh. Using the straight-line method, the firm changes the usef...
If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
Under the Written Down Value (WDV) method, depreciation is:
A machine costing ₹8,00,000 has a salvage value of ₹80,000 after 10 years. The company follows Straight Line Method (SLM). During the 4th year, it s...
A company acquired a machine for ₹12 lakhs with an expected useful life of 6 years and residual value of ₹1.2 lakh. Using the straight-line method, ...
If the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
A company purchases an intangible asset (software license) for ₹20 lakhs, with a legal validity of 5 years and probable economic benefit of 8 years. A...
Under which condition will no depreciation be charged on a fixed asset during a financial year?
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