Question
On 21st January 2022, three states observed their 50th
Statehood Day, which of the following is NOT one amongst these three?Solution
The correct answer is B
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, ...
Under which condition will no depreciation be charged on a fixed asset during a financial year?
Under AS 6, which of the following cannot be considered a method of depreciation?
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 ₹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 year...
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 inc...
A company purchases machinery for ₹50 lakhs with a useful life of 10 years and salvage value of ₹5 lakhs. The company uses straight-line depreciatio...
If the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
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 usef...
If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
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