Question
On purchase of old furniture, the amount of ₹1,000
spent on its repair should be debited to:Solution
When an asset (like old furniture) is purchased and immediately repaired to bring it to usable condition, the repair cost becomes part of the capital cost of the asset. Hence, it should be added to the Furniture account, not expensed as a revenue expenditure.
In the questions given below, there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be...
Conclusions:
I. No Lid being Utensil is a possibility.
II. Some Spoons are not Plates.
III. Some Spoons are Cups.
Statements:
Statements:All Januarys are Februarys.
No February is March.
All marches are Aprils.
Conclusions:I. some March are not Februarys.
Statements :
Only a few Harpic is Lizol.
Only a few Lizol is Detergent.
No Harpic is Pesticide.
Conclusion :
I. Ev...
. Statements:
No Dell is Asus.
No Acer is Bosch.
Only a few Bosch are HP.
All Acer are Asus.
Conclusions:
<...Statements:
Some tasks are work.
All work are job.
Some job are tough
Conclusion:
I. Some tasks are tough.
Two statements are given followed by two conclusions numbered I & II. Assuming the statements to be true, even if they seem to be at variance with comm...
In the question below, three statements are given followed by the conclusions. You have to take the given statements to be true even if they seem to b...
Statements:
All hands are arms.
Each arm is leg.
Some hands are eyes.
No arm is an ear.
Conclusions:
I. Some a...
Statements: All bulb are light.
No light is a tubelight.
Conclusions: I. Some light a...
