Question
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. As per accounting principles, over what period should the asset be amortized?
More Depreciation Questions
- Under the Written Down Value (WDV) method, depreciation is:
- NRV or net realizable value of inventory is the expected selling price or market value less....
- 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 useful life...
- Which accounting standard in India deals with depreciation accounting?
- A company buys a machine for ₹12,00,000 and expects to use it for 8 years with residual value ₹80,000. Under straight-line method, annual depreciation is:
- If the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
- Under which condition will no depreciation be charged on a fixed asset during a financial year?
- The primary cause of depreciation is:
- Transaction is referred as which event in accounting?
- There are certain expenses that may be in the nature of revenue but their benefit may not be consumed in the year in which such expenditure has been incurr...
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)