Question
Which accounting standard in India deals with depreciation accounting?
More Depreciation Questions
- Under which condition will no depreciation be charged on a fixed asset during a financial year?
- XYZ Ltd. uses Written Down Value (WDV) method for depreciation. It acquires a machine for ₹10 lakhs, has a salvage value of ₹1 lakh and charges 20% depreci...
- 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...
- 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:
- A machine costing ₹4,00,000 has a useful life of 5 years with scrap value ₹25,000. The company provides depreciation on WDV at 25% p.a. After 3 years, the ...
- 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 com...
- A machine was purchased for ₹1,00,000. Depreciation is charged at 10% per annum under the Diminishing Balance Method. The book value of the machine at the ...
- Under AS 6, which of the following cannot be considered a method of depreciation?
- 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 switches...
- A company purchased machinery on 1st April 2023 for ₹15,00,000. It charges depreciation @15% p.a. under the Diminishing Balance Method. The written-down va...
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