Question
Which of the following is not a characteristic of a
non-durable good?Solution
The correct answer is D
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 a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
Under AS 6, which of the following cannot be considered a method of depreciation?
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 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...
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 the capital of a business is 230000, liabilities are 50000, loss 80000, then asset will be?
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...
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% ...
Which method of depreciation is NOT recognized by the Companies Act, 2013?