What do you mean by exhaustion of an asset?

What do you mean by exhaustion of an asset?
by

1 Answer

Answer :

When useful life for asset is zero or Asset is fully depreciated.
by

Related questions

Is depreciation charged to reduce profits or to reduce the value of asset during a financial year?

Description : Is depreciation charged to reduce profits or to reduce the value of asset during a financial year?

Last Answer : It is charged to reduce value of asset.

Why depreciation is charged to an asset?

Description : Why depreciation is charged to an asset?

Last Answer : As per Accounting Standards, it is a good practice to show the capital expense every period i.e. period wise. Thus, profits will be evenly shared in each period.

What do you mean by obsolescence?

Description : What do you mean by obsolescence?

Last Answer : When new model for asset procured/installed earlier is released the previous asset market value decreases. This is Obsolescence.

Give journal entry for adjusting profit made due to change in method of depreciation.

Description : Give journal entry for adjusting profit made due to change in method of depreciation.

Last Answer : It can only be achieved by reducing rate of Dep retrospectively.

What is retrospective change in depreciation method?

Description : What is retrospective change in depreciation method?

Last Answer : It means change in accounting policy such that it was present from starting.

What is prospective change in depreciation method?

Description : What is prospective change in depreciation method?

Last Answer : Prospective Change means the effect of accounting estimate and new policy is from current date and in future entry.

Give equation for calculating depreciation under reducing balance method.

Description : Give equation for calculating depreciation under reducing balance method.

Last Answer : Dep per annum= (NBV- Salvage)*rate;

Give equation for calculating depreciation under straight-line method.

Description : Give equation for calculating depreciation under straight-line method.

Last Answer : Dep per annum= cost-salvage/useful life;

What is scrap value?

Description : What is scrap value?

Last Answer : Also known as residual/salvage value. The value means below which depreciation cannot be applied or in simpler terms assets useful life is over.

Why fixed instalment method is also called as straight-line method?

Description : Why fixed instalment method is also called as straight-line method?

Last Answer : As name suggests the depreciation amount is same each period so it is called fixed installation/straight line.

In which case depletion of assets takes place?

Description : In which case depletion of assets takes place?

Last Answer : Just like depreciation, depletion is accounting concept popularly utilized for tangible objects like Mineral Gas, Timber etc. where wear/tear for asset is not there. In these cases the followinf formula is used:

Why is depreciation charged even in the year of loss?

Description : Why is depreciation charged even in the year of loss?

Last Answer : Depreciation process does not depend on Profit/Loss, it is mandatory to charge depreciation as expense on Asset is distributed

Why is depreciation charged by business, which makes losses?

Description : Why is depreciation charged by business, which makes losses?

Last Answer : If I hide Depreciation for showing higher profits even if organization is in loss, I may end up paying Tax too. Which will in fact reduce my margin for profit. It will be better to show depreciation and claim tax benefit.

How does physical wear and tear result in depreciation?

Description : How does physical wear and tear result in depreciation?

Last Answer : Physical Wear/Tear tend to worn out the Asset decreasing its productivity over period. Thus, market value decrease for the asset.

What are the features of depreciation?

Description : What are the features of depreciation?

Last Answer : 3.1 Net Book value will decrease for asset. 3.2 Includes loss of value due to usage, obsolescence. 3.3 Continuing Process. 3.4 Must be deducted before calculation taxable profits, as this is an ... then taxable profit is 50000 - 10000 = 40000 INR. 3.5 Does not include any actual cash flows.

What are the different causes of depreciation?

Description : What are the different causes of depreciation?

Last Answer : Wear and Tear; as over a period if asset is utilized it will be damaged and repair may be needed.

What is depreciation?

Description : What is depreciation?

Last Answer : Defined as reduction in value/cost of asset in systematic Manner

How much could one walk without stopping before death or exhaustion claimed them?

Description : How much could one walk without stopping before death or exhaustion claimed them?

Last Answer : It's a good question, one I have no answer for, but the details are fascinating. I dunno, I guess I could pound out the miles til I drop, certainly under those brutal circumstances. Drinking water ... mentally shred. I like to think this mass walkakillathon would have a theme song Run DMC anyone :D

Do you have any magic rejuvination cures for extreme stress and exhaustion?

Description : Do you have any magic rejuvination cures for extreme stress and exhaustion?

Last Answer : Dance with this

Any useful tips on how to deal with the feeling of exhaustion other than sleeping?

Description : Any useful tips on how to deal with the feeling of exhaustion other than sleeping?

Last Answer : reading :)

Does anybody know which anti-psychotics cannot be used in a wilderness program due to the concern of heat exhaustion?

Description : Does anybody know which anti-psychotics cannot be used in a wilderness program due to the concern of heat exhaustion?

Last Answer : This will be a problem with most neuroleptic (anti-psychotic) meds. There are certain ones that have less of an anticholinergic affect than others, but it remains a risk across the board. ... for a medication assessment and a determination if this is a feasible program for a neuroleptic-taker.

If you are somewhere really hot but you have unlimited access to cold water, can you still die of heat exhaustion?

Description : If you are somewhere really hot but you have unlimited access to cold water, can you still die of heat exhaustion?

Last Answer : answer:It would depend on: * How much sleep you are able to get * If you are able to eat and rest * That your internal body temperature remains below around 40°C Since we are warm blooded ... , or unfolding ; once the shape of protein changes, it ceases to function properly. Hope this helps!

What happens during the exhaustion stage of stress?

Description : What happens during the exhaustion stage of stress?

Last Answer : Need answer

How did medieval farmer deal with problem of soil exhaustion?

Description : How did medieval farmer deal with problem of soil exhaustion?

Last Answer : Need answer

How did medieval farmers deal with soil exhaustion Europe?

Description : How did medieval farmers deal with soil exhaustion Europe?

Last Answer : Need answer

Could symptoms of heat exhaustion be mistaken for hypoglycemia?

Description : Could symptoms of heat exhaustion be mistaken for hypoglycemia?

Last Answer : Yes, people have been known to mistake the symptoms for these ilness's i suggest going to a doctor or checking for more obvious symptoms.

What is meant by 'energy crisis'? (a) Shortage of hydro-electricity (b) Malnutrition leading to short supply of energy in the human body (c) Shortage of the thermal power (d) Impending danger of total exhaustion of fossil fuels like coal and petroleum

Description : What is meant by 'energy crisis'? (a) Shortage of hydro-electricity (b) Malnutrition leading to short supply of energy in the human body (c) Shortage of the thermal power (d) Impending danger of total exhaustion of fossil fuels like coal and petroleum

Last Answer : Ans: (b)

Exponential phase of growth curve of bacteria is of limited duration because of A.rise in cell density B.accumulation of toxic metabolites C.exhaustion of nutrients D.all of these

Description : Exponential phase of growth curve of bacteria is of limited duration because of A.rise in cell density B.accumulation of toxic metabolites C.exhaustion of nutrients D.all of these

Last Answer : D.all of these

Exponential phase of growth curve of bacteria is of limited duration because of A.rise in cell density B.accumulation of toxic metabolites C.exhaustion of nutrients D.all of these

Description : Exponential phase of growth curve of bacteria is of limited duration because of A.rise in cell density B.accumulation of toxic metabolites C.exhaustion of nutrients D.all of these

Last Answer : D.all of these

Accounting question: is it a fixed asset if multiple items total over $500?

Description : Accounting question: is it a fixed asset if multiple items total over $500?

Last Answer : The price is irrelevant to the definition of a fixed asset. The common definition is applicable to items not readily convertible to cash, such as your house or the new furnace in your house—things you are unlikely to buy or sell in a hock shop or yard sale.

How do you feel about asset forfeiture laws?

Description : How do you feel about asset forfeiture laws?

Last Answer : I think it's urgent that the ACLU grab one of these cases, and begins marching toward the Supreme Court, because the mass preponderance of those who have their possessions confiscated lack the means to ... or even tried must not be allowed. Otherwise, only those of us who own nothing are immune.

Has the name you were given at birth been an asset or a detriment?

Description : Has the name you were given at birth been an asset or a detriment?

Last Answer : I have been neutral about mine but would have preferred Abigail for the extra two syllables. “Gail” sounds harsh to me.

Finance and economics major, how has your course helped you be an asset in a company you are working for?

Description : Finance and economics major, how has your course helped you be an asset in a company you are working for?

Last Answer : Both of these courses help teach you what to watch for, how to better predict upcoming events, how to understand current financial events, etc. They give you a big picture view of ... in your business environment, and synthesize all of that information together to make well informed decisions.

What is America's biggest asset?

Description : What is America's biggest asset?

Last Answer : Our ego? That’s pretty big.

I am trying to import a quicktime movie file as an asset into dvd studio pro but it is only importing as audio. Why?

Description : I am trying to import a quicktime movie file as an asset into dvd studio pro but it is only importing as audio. Why?

Last Answer : Is it a avi file? Does it play in Quicktime Player? This is a pretty common problem with avi files and Quicktime. You might need to convert it with something like VisualHub first.

When does too much positivity stop being an asset and become a handicap instead?

Description : When does too much positivity stop being an asset and become a handicap instead?

Last Answer : She may not perceive the falseness. She only sees the good in them. While I can’t fault an optimistic outlook, it seems like she may be taking it a step further in such a way that is detrimental to her and the people who live with her. Moderation, yadda yadda.

What is credit? How can credit be both an asset as well as a debt trap? -SST 10th

Description : What is credit? How can credit be both an asset as well as a debt trap? -SST 10th

Last Answer : Credit refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. Example of credit as an asset: During the ... in farmer's case credit pushes the borrower into a situation from which recovery is very painful.

communication is a vital asset in promoting organizational performance -General Knowledge

Description : communication is a vital asset in promoting organizational performance -General Knowledge

Last Answer : The given statement is true.

Suggest any three ways to transform population load into an asset. -Economics 9th

Description : Suggest any three ways to transform population load into an asset. -Economics 9th

Last Answer : The three ways to transform population load into an asset are: (i) To improve literacy rate: Education provides new aspirations and developed values of life. Education helps in ... education helps the people to get employment and therefore they contribute to the national income later on.

When did the first asset tax start in India ?

Description : When did the first asset tax start in India ?

Last Answer : The first wealth tax in India was introduced in 1953 .

What is a public asset ?

Description : What is a public asset ?

Last Answer : Collective wealth is called universal wealth.

What is the most valuable asset of Bangladesh ?

Description : What is the most valuable asset of Bangladesh ?

Last Answer : Soil is the most valuable resource of Bangladesh.

What is the major difference between 'Depreciation on Asset' and 'Impairment of Asset' ?

Description : What is the major difference between 'Depreciation on Asset' and 'Impairment of Asset' ?

Last Answer : Depreciation of assets in the allocation of assets whose value is placed on the balance sheet. It is a kind of tangible asset that may incur a cost. While Impairment of assets in the assets of ... the balance sheet. They are usually long-term assets. The longer the span the greater the impairment.

(i) Bank overdraft is an Asset of the business concern.

Description : (i) Bank overdraft is an Asset of the business concern.

Last Answer : Correct and Rewrite the following statements: (i) Bank overdraft is an Asset of the business ... expenses, and purchase transferred to Trading A/c)

Depreciation need not be provided if the asset is not in use.

Description : Depreciation need not be provided if the asset is not in use.

Last Answer : State True or False with reason : Depreciation need not be provided if the asset is not in use.

(i) A Copy Right is __________ Asset.

Description : (i) A Copy Right is __________ Asset.

Last Answer : Fill in the blanks: (i) A Copy Right is __________ Asset. (ii) Wages paid for ... __________ (v) Return outward are deducted from _____________

There is no need to provide depreciation if the asset is maintained with care.

Description : There is no need to provide depreciation if the asset is maintained with care.

Last Answer : State whether the following statement are True or False with reason : There is no need to provide depreciation if the asset is maintained with care.

(i) The method of charging depreciation under which depreciation is calculated on the original cost of an asset.

Description : (i) The method of charging depreciation under which depreciation is calculated on the original cost of an asset.

Last Answer : Write the word/term/phrase which can substitute each of the following statements: (i) The method ... , etc. incurred for the erection of machinery.

Depreciation = cost of Asset (-)........./Estimatedlif of Asset

Description : Depreciation = cost of Asset (-)........./Estimatedlif of Asset

Last Answer : Depreciation = \(\cfrac{cost\,of\,Asset(-)........}{Estimated\,life\,of\,Asset}\) (a) ... b) Scrap value (c) Installation charges (d) months

By the amount of depreciation the value of asset __________ 

Description : By the amount of depreciation the value of asset __________ 

Last Answer : By the amount of depreciation the value of asset __________ (a) decreases (b) increases (c) becomes zero (d) remains constant