Depreciation is always charged on __________ assets. 

Depreciation is always charged on __________ assets. 
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Depreciation is always charged on __________ assets. (a) Current (b) Fixed (c) Fictitious (d) Intangible
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(i) Which accounting standard is followed for depreciation on fixed assets __________

Description : (i) Which accounting standard is followed for depreciation on fixed assets __________

Last Answer : Complete the following sentence : (i) Which accounting standard is followed for depreciation on fixed ... for a period of less than one 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. 

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A limited company makes a net profit of Rs. 2,00,000 after writing off preliminary expenses amounting to Rs. 20,000 and providing for depreciation on assets amounting to Rs. 40,000 and gain of Rs. 10,000 on sale of a piece of machinery. What are the funds from operation ? (A) Rs. 2,00,000 (B) Rs. 2,40,000 (C) Rs. 2,50,000 (D) Rs. 2,60,000

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Last Answer : Answer: Rs. 2,50,000

The following data, relates to manufacturing company for the year 2006-07– Net Profit as per P & L A/c–Rs. 2,40,000; Depreciation–Rs. 80,000; Goodwill written-off– Rs. 40,000, Profit on Sale of Fixed Assets–Rs. 16,000, Proposed Dividend–Rs. 96,000. The fund from operation would be– (A) Rs. 4,40,000 (B) Rs. 4,00,000 (C) Rs. 6,40,000 (D) None of the above

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Last Answer : Answer: None of the above

A Firm is considering undertaking a project that would yield annual profits (after depreciation) of Rs 68,000 for 5 years. The initial outlay of the project would be Rs 800,000 and the project's assets would have a residual value of Rs 50,000 at the end of the project. What would be the accounting rate of return for this project? A 16% B 8.5% C 8.0% D 9.1%

Description : A Firm is considering undertaking a project that would yield annual profits (after  depreciation) of Rs 68,000 for 5 years. The initial outlay of the project would be Rs  800,000 and the project's assets would have ... accounting rate of return for this project?  A 16%  B 8.5%  C 8.0%  D 9.1%

Last Answer : A 16%

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.

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Depreciation is shown in ____________________. a. P & L statement b. Current Assets c. Investments d. Creditors

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Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.

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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

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Last Answer : d) Nil

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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

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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

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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

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Last Answer : b) Rs. 3.75 lakh

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.

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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 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.

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 is the rate of depreciation charged on Computer Software: a) 10% b) 60% c) 40% d) 15%

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Under the Income Tax Act 1961, Depreciation on machinery is charged on : a) Purchase Price of the machinery b) Market Price of the Machine c) Written Down value d) A or B which is less

Description : Under the Income Tax Act 1961, Depreciation on machinery is charged on : a) Purchase Price of the machinery b) Market Price of the Machine c) Written Down value d) A or B which is less

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Depreciation under ICDS-V shall be charged in accordance with : a) Income Tax Act 1961 b) Companies Act 2013 c) Notified Rate –CBEC d) Straight line over the useful life

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Last Answer : a) Income Tax Act 1961

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

(i) Depreciation is charged on current Assets only.

Description : (i) Depreciation is charged on current Assets only.

Last Answer : Do you agree or disagree with the following statements : (i) Depreciation is charged on ... depreciation is charged on assets purchased on credit.

Sale of products from test run before production run is a) Deducted from actual cost b) Added to actual cost of assets c) Charged as pre-profits d) Charged as preliminary expenses

Description : Sale of products from test run before production run is a) Deducted from actual cost b) Added to actual cost of assets c) Charged as pre-profits d) Charged as preliminary expenses

Last Answer : a) Deducted from actual cost

___________ is excess of assets over liabilities. 

Description : ___________ is excess of assets over liabilities. 

Last Answer : ___________ is excess of assets over liabilities. (a) Goodwill (b) Capital (c) Investments (d) Drawings

According to ____________ concept, assets are recorded at a price paid to acquire them. 

Description : According to ____________ concept, assets are recorded at a price paid to acquire them. 

Last Answer : According to ____________ concept, assets are recorded at a price paid to acquire them. (a) Cost ... measurement (c) Entity (d) Dual aspect

Bank charges charged by bank are recorded on _________ side of Pass Book. 

Description : Bank charges charged by bank are recorded on _________ side of Pass Book. 

Last Answer : Bank charges charged by bank are recorded on _________ side of Pass Book. (a) debit (b) credit (c) any (d) both

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.

The value of a property decreases __________ with time in straight line method of determining depreciation. (A) Linearly (B) Non-linearly (C) Exponentially (D) Logarithmically

Description : The value of a property decreases __________ with time in straight line method of determining depreciation. (A) Linearly (B) Non-linearly (C) Exponentially (D) Logarithmically

Last Answer : A) Linearly

Total product cost of a chemical plant does not include the __________ cost. (A) Market survey (B) Operating labour, supervision and supplies (C) Overhead and utilities (D) Depreciation, property tax and insurance

Description : Total product cost of a chemical plant does not include the __________ cost. (A) Market survey (B) Operating labour, supervision and supplies (C) Overhead and utilities (D) Depreciation, property tax and insurance

Last Answer : (A) Market survey

Annual depreciation cost are not constant when, the __________ method of depreciation calculation is used. (A) Straight line (B) Sinking fund (C) Present worth (D) Declining balance

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Last Answer : (D) Declining balance

Out of the following, the depreciation calculated by the __________ method is the maximum. (A) Diminishing balance (B) Straight line (C) Sum of the years digit (D) Sinking fund

Description : Out of the following, the depreciation calculated by the __________ method is the maximum. (A) Diminishing balance (B) Straight line (C) Sum of the years digit (D) Sinking fund

Last Answer : A) Diminishing balance

Depreciation of machines fails under the indirect expenses head. As per income tax regulations, it is calculated by the __________ method. (A) Diminishing balance (B) Sinking fund (C) Multiple straight line (D) Sum of the years digit

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Last Answer : (A) Diminishing balance

Which of the following statements is correct relating to the auditor’s consideration of fraud? a. The auditor’s interest in fraud consideration relates to fraudulent acts that cause a material misstatement of financial statements. b. A primary factor that distinguishes fraud from error is that fraud is always intentional, while errors are generally, but not always, intentional. c. While an auditor should be aware of the possibility of fraud, management, and not the auditor, is responsible for detecting fraud. d. Fraud always involves a pressure or incentive to commit fraud, and a misappropriation of assets

Description : Which of the following statements is correct relating to the auditor's consideration of fraud? a. The auditor's interest in fraud consideration relates to fraudulent acts that cause a material ... d. Fraud always involves a pressure or incentive to commit fraud, and a misappropriation of assets

Last Answer : The auditor’s interest in fraud consideration relates to fraudulent acts that cause a material misstatement of financial statements.

Which of the following statement is correct? A. Fixed assets must always be shown at market value B. Book-keeping and accounting are different terms C. Owner's Equity = Assets + Liabilities D. Patents is an example of current asset

Description : Which of the following statement is correct? A. Fixed assets must always be shown at market value B. Book-keeping and accounting are different terms C. Owner's Equity = Assets + Liabilities D. Patents is an example of current asset

Last Answer : A. Fixed assets must always be shown at market value

The __________ of a chemical company can be obtained directly from the balance sheet as the difference between current assets and current liabilities. (A) Cash ratio (B) Net working capital (C) Current ratio

Description : The __________ of a chemical company can be obtained directly from the balance sheet as the difference between current assets and current liabilities. (A) Cash ratio (B) Net working capital (C) Current ratio

Last Answer : (B) Net working capital

Under-capitalization arises due to __________. A. excess of assets over the liabilities. B. excess of liabilities over the assets. C. actual capitalization is higher than the proper capitalization. D. actual capitalization is lower than the proper capitalization.

Description : Under-capitalization arises due to __________. A. excess of assets over the liabilities. B. excess of liabilities over the assets. C. actual capitalization is higher than the proper capitalization. D. actual capitalization is lower than the proper capitalization.

Last Answer : D. actual capitalization is lower than the proper capitalization.

Large investment is made in fixed assets, the project will be termed as __________. A. Capital Intensive. B. Labour Intensive. C. Product Intensive. D. Market Intensive.

Description : Large investment is made in fixed assets, the project will be termed as __________. A. Capital Intensive. B. Labour Intensive. C. Product Intensive. D. Market Intensive.

Last Answer : A. Capital Intensive.

I am not found on any ground, But always in the air; Though charged each cloud with thunder loud, You can not find me there. Now, if from France you choose to dance Your way just into Spain, I there am seen, and near the queen, In hail, in mist, and rain.What am I? -Riddles

Description : I am not found on any ground, But always in the air; Though charged each cloud with thunder loud, You can not find me there. Now, if from France you choose to dance Your way just into Spain, I there am seen, and near the queen, In hail, in mist, and rain.What am I? -Riddles

Last Answer : The letter I.

I am not found on any ground,But always in the air; Though charged each cloud with thunder loud, You can not find me there. Now, if from France you choose to dance Your way just into Spain, I there am seen, and near the queen, In hail, in mist, and rain.What am I? -Riddles

Description : I am not found on any ground,But always in the air; Though charged each cloud with thunder loud, You can not find me there. Now, if from France you choose to dance Your way just into Spain, I there am seen, and near the queen, In hail, in mist, and rain.What am I? -Riddles

Last Answer : The letter I.

Assertion In non-uniform magnetic field speed of a charged particle varies. Reason Work done by magnetic force on a charged particle is always zero.

Description : Assertion In non-uniform magnetic field speed of a charged particle varies. Reason Work done by magnetic force on a charged particle is always zero.

Last Answer : Assertion In non-uniform magnetic field speed of a charged particle varies. Reason Work done by ... If Assertion is false but Reason is true.

Which of the following statements concerning nickel-cadmium batteries is true? A. When mixing electrolyte always add acid to the water. B. Nickel-cadmium batteries can be charged and discharged only a limited number of times without damage to the cells. C. Nickel-cadmium batteries can be stored for a long time and still keep a full charge without additional charging. D. The electrolyte of an idle nickel-cadmium battery must be replaced monthly to maintain battery condition.

Description : Which of the following statements concerning nickel-cadmium batteries is true? A. When mixing electrolyte always add acid to the water. B. Nickel-cadmium batteries can be charged and ... The electrolyte of an idle nickel-cadmium battery must be replaced monthly to maintain battery condition.

Last Answer : Answer: C

Do you always have to accept the waiver of priority? (Cross Test)

Description : No, only if you are sure of the safety of yourself and your partners. Yes, because in that case the partner is the responsibility. Yes, because it speeds up traffic.

Last Answer : No, only if you are sure of the safety of yourself and your partners.

Cash account always shows ________ balance. 

Description : Cash account always shows ________ balance. 

Last Answer : Cash account always shows ________ balance. (a) Credit (b) Negative (c) Minus (d) Debit

At high discharge rates, nickel-cadmium storage batteries are superior to lead-acid batteries because they __________. A. require fewer cells for the same voltage and less mounting space B. are able to produce higher voltages and do not have to be charged as often C. can be charged and discharged many times without much damage D. have no individual cells to replace at the end of useful life

Description : At high discharge rates, nickel-cadmium storage batteries are superior to lead-acid batteries because they __________. A. require fewer cells for the same voltage and less mounting space B. are able to ... times without much damage D. have no individual cells to replace at the end of useful life

Last Answer : Answer: C

A __________ company must issue prospectus to the public for capital subscription. 

Description : A __________ company must issue prospectus to the public for capital subscription. 

Last Answer : A __________ company must issue prospectus to the public for capital subscription. (a) Statutory (b) Private (c) Public

In a small company, paid-up share capital does not exceed ₹ __________ or such higher amount as may be prescribed. 

Description : In a small company, paid-up share capital does not exceed ₹ __________ or such higher amount as may be prescribed. 

Last Answer : In a small company, paid-up share capital does not exceed ₹ __________ or such higher amount as may be prescribed. ... (b) ₹ 20 lakh (c) ₹ 50 lakh

__________ means the ruling class. 

Description : __________ means the ruling class. 

Last Answer : __________ means the ruling class. (a) Rashtra (b) Rajya (c) Gana (d) Khanda

A statement of __________ is to be prepared in under to find out profit or loss under a single entry system. 

Description : A statement of __________ is to be prepared in under to find out profit or loss under a single entry system. 

Last Answer : A statement of __________ is to be prepared in under to find out profit or loss under a single entry system ... (c) Revenue (d) Profit or Loss