Question
Which of the following microbes involve in the
nitrification process?Solution
Nitrosomonas is responsible for the oxidation of ammonia to nitrite, and Nitrobacter oxidizes nitrite to nitrate.
Which method of depreciation results in equal depreciation expense each year?
Which of the following is NOT a method of charging depreciation?
If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
Which asset is not eligible for depreciation under the Income Tax Act?
Company X acquired equipment costing ₹5,00,000 on 1-Jan-Year1; useful life 5 years, no residual. It capitalises borrowing costs of ₹30,000 related t...
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...
Under which condition will no depreciation be charged on a fixed asset during a financial year?
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...
A machine costing ₹8,00,000 has a useful life of 5 years and scrap value of ₹50,000. Using WDV method at 30%, what will be the book value at the end...
Which method of depreciation is NOT recognized by the Companies Act, 2013?
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