Question
A class has 48 students. On a specific day, only (3/8)
of the students were present; the number of absentees on the same day would be:Solution
Number of students were present on that day = 48 × (3/8) = 18 Number of absentees on that day = 48 - 18 = 30
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...
Under which condition will no depreciation be charged on a fixed asset during a financial year?
Which asset is not eligible for depreciation under the Income Tax Act?
Under which condition will no depreciation be charged on a fixed asset during a financial year?
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...
The primary cause of depreciation is:
Which method of depreciation results in equal depreciation expense each year?
If a firm has been changing its depreciation policy every year, it is violating the_______ concept/principle of accounting.
Which accounting standard in India deals with depreciation accounting?
A plant was purchased on 1st April 2021 for ₹5,00,000. Depreciation is charged at 15% p.a. under the WDV method. On 1st October 2023, the plant was so...
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