Question
Which of the following statements is/are correct?
Statement 1: Major Radhika Sen received the U.N. Military Gender Advocate of the Year Award for 2023. Statement 2: Her work involved promoting the rights and voices of men and elderly in conflict zones. Statement 3: Major Sen is from Sunder Nagar in Himachal Pradesh and comes from a family of retired teachers.Solution
Statements 1 and 3 are correct; Major Sen did receive the award and hails from Sunder Nagar. Statement 2 is incorrect as her work primarily involved supporting the rights and voices of women, girls, and children in conflict zones, not men and the elderly.
Which method of depreciation results in equal depreciation expense each year?
Which of the following is NOT a method of charging depreciation?
If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
Which asset is not eligible for depreciation under the Income Tax Act?
Company X acquired equipment costing ₹5,00,000 on 1-Jan-Year1; useful life 5 years, no residual. It capitalises borrowing costs of ₹30,000 related t...
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 s...
Under which condition will no depreciation be charged on a fixed asset during a financial year?
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. A...
A machine costing ₹8,00,000 has a useful life of 5 years and scrap value of ₹50,000. Using WDV method at 30%, what will be the book value at the end...
Which method of depreciation is NOT recognized by the Companies Act, 2013?
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