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

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

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) 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

How does asset depreciation affect my tax burden?

Description : How does asset depreciation affect my tax burden?

Last Answer : Asset Depreciation will decrease your tax amount owed. If you have assets that have decreased in value and qualify, you can file the loss on your taxes and be credited that amount toward your tax bill.

Which of the following is most likely to require special planning considerations related to asset valuation? a. Accelerated depreciation methods are used for amortizing the costs of factory equipment. b. The client has recently purchased an expensive copy machine. c. Assets costing less than P5,000 are expensed even when the expected life exceeds one year. d. Inventory is comprised of diamond rings.

Description : Which of the following is most likely to require special planning considerations related to asset valuation? a. Accelerated depreciation methods are used for amortizing the costs of factory equipment. b. ... even when the expected life exceeds one year. d. Inventory is comprised of diamond rings.

Last Answer : Inventory is comprised of diamond rings.

In declining balance method of depreciation calculation, the (A) Value of the asset decreases linearly with time (B) Annual cost of depreciation is same every year (C) Annual depreciation is the fixed percentage of the property value at the beginning of the particular year (D) None of these

Description : In declining balance method of depreciation calculation, the (A) Value of the asset decreases linearly with time (B) Annual cost of depreciation is same every year (C) Annual depreciation is the fixed percentage of the property value at the beginning of the particular year (D) None of these

Last Answer : (C) Annual depreciation is the fixed percentage of the property value at the beginning of the particular year

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.

If the block of asset ceases to exist on the last day of the previous year, depreciation admissible for block of assets will be: a) Nil b) 50% of the value of the block of assets on the first day of the previous year c) The total value of the block of the assets on the first day of the previous year d) 50% of the value of the block of assets on last day of the previous year

Description : If the block of asset ceases to exist on the last day of the previous year, depreciation admissible for block of assets will be: a) Nil b) 50% of the value of the block of assets on the first day ... of the previous year d) 50% of the value of the block of assets on last day of the previous year

Last Answer : a) Nil

If the asset is revalued then depreciation u/s 98 shall be allowed on a) Original amount b) Revalued Amount c) At fair value of similar asset d) Market Value-Notional Depreciation

Description : If the asset is revalued then depreciation u/s 98 shall be allowed on a) Original amount b) Revalued Amount c) At fair value of similar asset d) Market Value-Notional Depreciation

Last Answer : a) Original amount

Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 June 2017 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 lakh on 14 January 2018. Rate of depreciation of block is 10%. Calculate the amount of depreciation available during the previous year for the block. e. rupees 1.95 lakh f. rupees 2.5 lakh g. rupees 2.25 lakh h. Rs 1.45 lakh

Description : Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 June 2017 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 ... . rupees 1.95 lakh f. rupees 2.5 lakh g. rupees 2.25 lakh h. Rs 1.45 lakh

Last Answer : e. rupees 1.95 lakh

Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 January 2018 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 lakh on 14 January 2018. Rate of depreciation of block is 10%. Calculate the amount of depreciation available during the previous year. a. rupees 1.95 lakh b. rupees 2.5 lakh c. rupees 2.25 lakh d. Rs 1.45 lakh

Description : Opening WDV off the block of assets was Rs 15 lakh. During the year, asset was acquired under this block on 15 January 2018 amounting to rupees 10 lakh. One of the assets falling within the block was sold for rupees 5.5 ... rupees 1.95 lakh b. rupees 2.5 lakh c. rupees 2.25 lakh d. Rs 1.45 lakh

Last Answer : d. Rs 1.45 lakh

Depreciation when the asset is used for less than 180 days during the year of acquisition shall be at Block rate of: a) 50% b) 100% c) 20% d) 15%

Description : Depreciation when the asset is used for less than 180 days during the year of acquisition shall be at Block rate of: a) 50% b) 100% c) 20% d) 15%

Last Answer : a) 50%

If the asset acquired outside India by a non-resident is brought by him to India & used for business, then in that case what shall be the cost of addition? a) Value of the asset at the time of bringing the asset to India less depreciation b) Actual cost of asset less actual depreciation c) Actual cost of asset less notional depreciation d) Any of the above

Description : If the asset acquired outside India by a non-resident is brought by him to India & used for business, then in that case what shall be the cost of addition? a) Value of the asset at the ... of asset less actual depreciation c) Actual cost of asset less notional depreciation d) Any of the above

Last Answer : c) Actual cost of asset less notional depreciation

Opening WDV of the block of assets was Rs.15 lakh. During the year, asset was acquired under this block on 15th June2017 amounting to Rs. 10 Lakh. Rate of depreciation of the block is 15%. Calculate the amount of depreciation available during the P.Y. a) Rs. 3.5 Lakh b) Rs. 3.75 lakh c) Rs. 3.00 lakh d) Rs.2.25 Lakh

Description : Opening WDV of the block of assets was Rs.15 lakh. During the year, asset was acquired under this block on 15th June2017 amounting to Rs. 10 Lakh. Rate of depreciation of the block is 15%. Calculate the amount of depreciation ... 3.5 Lakh b) Rs. 3.75 lakh c) Rs. 3.00 lakh d) Rs.2.25 Lakh

Last Answer : b) Rs. 3.75 lakh

At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is A) Transferred to Depreciation Account B) Transferred to the Asset Account C) Transferred to Profit and Loss Account D) Simply deducted from the asset in the Balance Sheet

Description : At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is A) Transferred to Depreciation Account B) Transferred to the Asset Account C) Transferred to Profit and Loss Account D) Simply deducted from the asset in the Balance Sheet

Last Answer : Answer: D

Going Concern' concept of business says which of the following 1. Business will continue trading over a long period of time 2. Anticipate no profit and provide for all possible losses 3. The period of allocation f the cost of an asset 4. 1 and 2 5. None of these

Description : Going Concern' concept of business says which of the following 1. Business will continue trading over a long period of time 2. Anticipate no profit and provide for all possible losses 3. The period of allocation f the cost of an asset 4. 1 and 2 5. None of these

Last Answer : Business will continue trading over a long period of time

Answer: e The role of nutritional support in the cancer patient remains an important component of overall therapy. Preoperative nutritional support should be given only to those patients who do not require an emergency operation and who have severe weight loss (> 15% of pre-illness body weight) and a serum albumen < 2.9 mg%. Preoperative nutrition (enteral or parenteral) should not be given for longer than 7 to 10 days. Enteral nutrition is always the preferred route of feeding cancer patients if the GI tract is functional. There are several benefits of using the bowel lumen for nutrient delivery. The trophic effects of enteral feeding on small bowel mucosa have been well described. The integrity of the mucosal lining is maintained and it may provide an effective barrier to intraluminal

Description : Answer: e The role of nutritional support in the cancer patient remains an important component of overall therapy. Preoperative nutritional support should be given only to those patients who ... of bowel rest; this atrophy is not reversed by currently available total parenteral nutrition solutions

Last Answer : Which of the following hormones can be expected to be released as part of the stress response? a. Antidiuretic hormone (ADH) b. Aldosterone c. Insulin d. Epinephrine nswer: a, b, d ... This hormone has the exact opposite effect of insulin, which promotes glucose storage and uptake by the cells

Pick up the incorrect statement from the following: Tensile reinforcement bars of a rectangular beam (A) Are curtailed if not required to resist the bending moment (B) Are bent up at suitable places to serve as shear reinforcement (C) Are bent down at suitable places to serve as shear reinforcement (D) Are maintained at bottom to provide at least local bond stress

Description : Pick up the incorrect statement from the following: Tensile reinforcement bars of a rectangular beam (A) Are curtailed if not required to resist the bending moment (B) Are bent up at suitable ... to serve as shear reinforcement (D) Are maintained at bottom to provide at least local bond stress

Last Answer : Answer: Option C

The firm is to be staffed by personnel who have attained and maintained the technical standards and professional competence required to enable them to fulfill their responsibilities with due care is the objective of what quality control policy? a. Ethical requirements b. Leadership responsibilities c. Assignment d. Monitoring

Description : The firm is to be staffed by personnel who have attained and maintained the technical standards and professional competence required to enable them to fulfill their responsibilities with due care ... control policy? a. Ethical requirements b. Leadership responsibilities c. Assignment d. Monitoring

Last Answer : b

In which of the following case no depreciation is allowable: a) Block Exist but WDV ceases to exist b) WDV exist but the block ceases to exist c) WDV and Block both ceases to exist d) All of the above

Description : In which of the following case no depreciation is allowable: a) Block Exist but WDV ceases to exist b) WDV exist but the block ceases to exist c) WDV and Block both ceases to exist d) All of the above

Last Answer : c) WDV and Block both ceases to exist

R, an assessee carries on business in respect of which it holds tenancy rights. It carries out improvements to the said building at a cost of Rs. 2 lakhs and claims depreciation @ 10% thereon. Which one of the following is the correct answer? a) No depreciation will be available, on the grounds that the assessee is not the owner of the building b) Depreciation will be allowed of Rs.20 thousand c) Deduction will be allowed of Rs. 2 Lakh d) The amount of Rs.2.2 lakh will be capitalized

Description : R, an assessee carries on business in respect of which it holds tenancy rights. It carries out improvements to the said building at a cost of Rs. 2 lakhs and claims depreciation @ 10% thereon. Which one of ... Deduction will be allowed of Rs. 2 Lakh d) The amount of Rs.2.2 lakh will be capitalized

Last Answer : b) Depreciation will be allowed of Rs.20 thousand

Depreciation is a source of fund------------------- a) Yes b) No c) Both yes or no d) None of these

Description : Depreciation is a source of fund------------------- a) Yes b) No c) Both yes or no d) None of these

Last Answer : a) Yes

Depreciation is sometimes treated as -------of funds a) Outflow b) Use c) Source d) No change

Description : Depreciation is sometimes treated as -------of funds a) Outflow b) Use c) Source d) No change

Last Answer : c) Source

What Is The Need Of Depreciation Cost?

Description : What Is The Need Of Depreciation Cost?

Last Answer : Depreciation cost is the amount to be set aside per year from the income of the plant to meet the depreciation caused by the age of service, wear and tear of the machinery and equipments. Depreciation amount collected every year helps in replacing and repairing the equipment.

An intangible asset a. does not have physical substance, yet often is very valuable. b. is worthless because it has no physical substance. c. is converted into a tangible asset during the operating cycle. d. cannot be classified on the balance sheet because it lacks physical substance.

Description : An intangible asset a. does not have physical substance, yet often is very valuable. b. is worthless because it has no physical substance. c. is converted into a tangible asset during the operating cycle. d. cannot be classified on the balance sheet because it lacks physical substance.

Last Answer : a. does not have physical substance, yet often is very valuable.

Which one of the following Articles of the Constitution of India lays down that no citizen can be denied the use of wells, tanks and bathing Ghats maintained out of State funds? (1) (1) Article 14 (2) (2) Article 15 (3) (3) Article 16 (4) (4) Article 17

Description : Which one of the following Articles of the Constitution of India lays down that no citizen can be denied the use of wells, tanks and bathing Ghats maintained out of State funds? (1) (1) Article 14 (2) (2) Article 15 (3) (3) Article 16 (4) (4) Article 17

Last Answer : (2) Article 15 Explanation: Article 15 states Prohibition of discrimination on grounds of religion, race, caste, sex or place of birth. No citizen shall, on grounds only of religion, race, caste, ... resort maintained wholly or partly out of State funds or dedicated to the use of the general public.

A patient of chronic bronchial asthma maintained on oral prednisolone 20 mg daily and inhaled salbutamol as required develops chest infection. Which of the following measures is recommended: A. Stop prednisolone B. Reduce prednisolone dose to 5 mg/day C. No change/increase in prednisolone dose D. Substitute prednisolone with inhaled budesonid

Description : A patient of chronic bronchial asthma maintained on oral prednisolone 20 mg daily and inhaled salbutamol as required develops chest infection. Which of the following measures is recommended: A. ... mg/day C. No change/increase in prednisolone dose D. Substitute prednisolone with inhaled budesonid

Last Answer : C. No change/increase in prednisolone dose

Do mac computers need to be maintained like pc's?

Description : Do mac computers need to be maintained like pc's?

Last Answer : I only occasionally use Disk Utility to repair permissions.

how often do laminators need to be maintained?

Description : how often do laminators need to be maintained?

Last Answer : With normal use, a lamination machine should be cleaned about every three to six months. Each time you use it, a little residue is left behind. So, if you use your machine a lot, you may find that you need to service it a little more often.

What is the pH inside the stomach? Why is there a need to keep that pH level? How is it maintained? Which are the cells that produce that pH?

Description : What is the pH inside the stomach? Why is there a need to keep that pH level? How is it maintained? Which are the cells that produce that pH?

Last Answer : The normal pH of the gastric juice is around So it is an acid pH. It is necessary for the gastric pH to be kept acid for the activation of pepsinogen (a proenzyme secreted by the ... the secretion of hydrochloric acid (HCl) by the parietal cells. Digestion System - Image Diversity: parietal cells

In a landscape design, properly located plants and structures. a. Can reduce heat intensity b. Need to be constantly pruned and maintained c. Block the view of the front door d. Are not essential for a good landscape design

Description : In a landscape design, properly located plants and structures. a. Can reduce heat intensity b. Need to be constantly pruned and maintained c. Block the view of the front door d. Are not essential for a good landscape design

Last Answer : Can reduce heat intensity

The binding of acquittance rolls in respects of staff, for whom establishment returns are sent to the Postal account office and for whom service books of service rolls are maintained need not be in leather but in cloth as there are to be preserved for a) 5 Year b) 6 year c) 7 year d) 2 year

Description : The binding of acquittance rolls in respects of staff, for whom establishment returns are sent to the Postal account office and for whom service books of service rolls are maintained need not be in leather but in cloth as there are to be preserved for a) 5 Year b) 6 year c) 7 year d) 2 year

Last Answer : b) 6 year

Classroom discipline can be maintained effectively by (a) Knowing the cause of indiscipline and handling it with stern hand (b) Providing a programme which is according to the need and interest of the pupils (c) By putting on fancy clothes in the classroom (d) None of these

Description : Classroom discipline can be maintained effectively by (a) Knowing the cause of indiscipline and handling it with stern hand (b) Providing a programme which is according to the need and interest of the pupils (c) By putting on fancy clothes in the classroom (d) None of these

Last Answer : b) Providing a programme which is according to the need and interest of the pupils

As a new company grows, the entrepreneur will need to _________. A. be responsive to changes in the market. B. ensure financial controls are maintained. C. build a management team. D. all the above.

Description : As a new company grows, the entrepreneur will need to _________. A. be responsive to changes in the market. B. ensure financial controls are maintained. C. build a management team. D. all the above.

Last Answer : D. all the above.

which method almost always produces the most depreciation in the first year? -General Knowledge

Description : which method almost always produces the most depreciation in the first year? -General Knowledge

Last Answer : B. ​Double-declining-balance.

why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Description : why Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual depreciation is onthe straight line method?

Last Answer : Novelty Chemicals bought a Motor Vehicle for$110,000 on January 5, 2016. The estimated usefullife of the vehicle is ten years. The disposal valueis estimated at $10,000. Annual ... for annualdepreciation.d) The Balance Sheet extracts for motor vehicle and itsrelated depreciation.full question

Property Depreciation Because What ?

Last Answer : Usage Loss , time Passed To be , accidentally Depreciation.

Depreciation is always charged on __________ assets. 

Description : Depreciation is always charged on __________ assets. 

Last Answer : Depreciation is always charged on __________ assets. (a) Current (b) Fixed (c) Fictitious (d) Intangible

(i) Fixed Installment Method of depreciation is also known as _________ cost method.

Description : (i) Fixed Installment Method of depreciation is also known as _________ cost method.

Last Answer : Complete the following sentence : (i) Fixed Installment Method of depreciation is also known as ... year. (v) Depreciation is ________ expenses.

(i) ___________ is the major cause for Depreciation.

Description : (i) ___________ is the major cause for Depreciation.

Last Answer : Complete the following sentence : (i) ___________ is the major cause for Depreciation. (ii) ... cost concept is use for depreciation of Assets.

Under the Reducing Balance, method depreciation is charged on the original cost.

Description : Under the Reducing Balance, method depreciation is charged on the original cost.

Last Answer : State whether the following statement are True or False with reason : Under the Reducing ... method depreciation is charged on the original cost.

Which method of depreciation would you suggest for depreciating a five years lease?

Description : Which method of depreciation would you suggest for depreciating a five years lease?

Last Answer : Which method of depreciation would you suggest for depreciating a five years lease?

Under which method of depreciation does the number of depreciation change every year?

Description : Under which method of depreciation does the number of depreciation change every year?

Last Answer : Under which method of depreciation does the number of depreciation change every year?

Under which method of depreciation the amount of depreciation remains constant every year?

Description : Under which method of depreciation the amount of depreciation remains constant every year?

Last Answer : Under which method of depreciation the amount of depreciation remains constant every year?

Under the __________ system of depreciation, the amount of depreciation does not change from year to year. 

Description : Under the __________ system of depreciation, the amount of depreciation does not change from year to year. 

Last Answer : Under the __________ system of depreciation, the amount of depreciation does not change from year to year. ... (c) Depletion (d) Machine Hour Rate

Under ____________ method depreciation is calculated on written down value.

Description : Under ____________ method depreciation is calculated on written down value.

Last Answer : Under ____________ method depreciation is calculated on written down value. (a) Fixed Instalment (b) ... Balance (c) Revaluation (d) Depletion

In fixed instalment system the amount of depreciation is ____________ every year. 

Description : In fixed instalment system the amount of depreciation is ____________ every year. 

Last Answer : In fixed instalment system the amount of depreciation is ____________ every year. (a) constant (b) fluctuating (c) increased (d) decreased