Question
In Python, which of the following is used to create an
anonymous function?Solution
lambda creates small anonymous functions without a name.
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...
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-do...
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...
Which accounting standard in India deals with depreciation accounting?
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...
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, ...
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...
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 results in equal depreciation expense each 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% ...
