Question
What is inheritance in Python?
Solution
Explanation: Inheritance is a mechanism in Python where one class can inherit the methods and attributes of another class. This allows for code reuse and facilitates the creation of a hierarchy of classes.
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...
If the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
Under AS 6, which of the following cannot be considered a method of depreciation?
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 depreciati...
NRV or net realizable value of inventory is the expected selling price or market value less....
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?
Machine cost ₹10L, useful life 5 years, scrap value ₹1L. Using sum-of-years-digits method, depreciation for year 2 = ?
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% ...
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, ...