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.
Nagarjunasagar Srisailam Tiger Reserve is in which of the following state?
Where is the headquarters of Coalition for Disaster Resilient Infrastructure (CDRI)?
Match the following states with percentage of population below the poverty line. According to the Planning Commission of India (2011-12).
Which state has the traditional dress of men known as "Sola or Fotua" and "Eri Chaddar"?
Which of the following categories under PM Mudra Yojana caters specifically to small businesses requiring medium-sized loans for business expansion?
If the sum of two numbers is 3 and sum of their squares is 12, then their product is equal to
Which company has recently launched Gemini, a new artificial intelligence (AI) system capable of understanding and intelligently responding to various p...
Which of the following is a financial strategy that should be understood and used by investors because of the advantages it offers?
“Rukmani Devi” got which award in 1956?
Which of the following countries hosted the IBA Women’s World Boxing Championships for the third time in March 2023?
