Question
The ability of the device to give identical output when
repeat measurement are made with the same input is defined as________Solution
The correct answer is Precision , because it refers to the repeatability of a device when the same input is measured multiple times, giving nearly identical outputs. ● Accuracy → closeness of measurement to the true value. ● Calibration → process of adjusting an instrument against a standard. ● Resolution → the smallest change in input that can be detected by the device.
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 purchases an intangible asset (software license) for ₹20 lakhs, with a legal validity of 5 years and probable economic benefit of 8 years. A...
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...
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?
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 vehicle purchased for ₹8,00,000 has an estimated useful life of 5 years and a residual value of ₹1,00,000. Using the Straight-Line Method, the dep...
If the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
A plant was purchased for ₹10,00,000. After 4 years, its book value stands at ₹6,56,100 using the diminishing balance method. The annual rate of dep...
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...
Relevant for Exams:
