Question
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, the company charged full year depreciation even if purchased mid-year. What accounting assumption is violated?Solution
Charging full depreciation without matching it with actual usage violates the matching concept, which requires cost allocation to the period of benefit.
E is 5m to the north of J. F is 5m to the west of E. C is 5m to the south of F. I is 9m to the east of C. H is 5m to the north of I. K is 12m to the eas...
Select the option in which the numbers are related in the same way as the numbers in the following set:
(13, 20, 14)
Which two numbers (not digits) should be interchanged to make the given equation correct?
27 × 3 – (7)² + 19 + (69 ÷ 23) × 6 – 15 = 70<...
'A # B' means 'A is the wife of B'. 'A @ B' means 'A is the father of B'. 'A & B' means 'A is the brother of B'. 'A $ B' means 'A is the child of B'. If...
Three of the following words are alike in some manner and hence form a group. Which word does NOT belong to that group? ( The words must be considered a...
Which answer figure will complete the pattern in the question figure?
Statement:
Some Sundays are Monday.
Only a few Monday are Tuesday.
All Wednesday are Tuesday.
None of the Mondays are T...
Select the letter-cluster from among the given option that can replace the question mark (?) in the following series.
?, K – 4, L – 6, M – ...
If 'KLING' is written as 'GIKLN', then based on the same pattern ' ANTHEM ' will be written as?
