Using the Diminishing Balance method, depreciation is accounted using

Total Charge of Depreciation and Repairs is --- in Fixed Installment Method.

The Annual Amount of Depreciation is --- in Fixed Installment Method and ---- Diminishing Balance Method respectively.

Depreciation is charged on the book value according to --- Method.

Under this method, the rate of depreciation remains fixed, while the amount of depreciation charged goes on diminishing with the passage of time

Under Fixed installment method, Depreciation is calculated using

A fixed percentage on the original cost of the asset is written off every year so that the value of the asset becomes zero at the end of its life period. The amount of depreciation charged annually will be constant. This method is known as

The estimated value at the end of its useful life is termed

The time period when the asset will be used is called

Cost of the asset is calculated using the formula

Some assets are of wasting nature due to constant extraction of raw materials. By extraction of natural resources, their des sits are depleted. Decrease in such mineral wealth due to extraction is termed as

Which of the following best describes depreciation in conceptual terms?

An asset is acquired for ₹1,000,000 with useful life 5 years and residual value ₹100,000. Under the sum-of-the-years’-digits (SYD) method, what is Year 1 depreciation?

Which statement about capital reserves versus revenue reserves is most accurate?

At year-end, management estimates that inventory obsolescence losses of ₹900,000 are probable and can be reliably measured. How should this be accounted for?

A company creates a general reserve out of profits. What is the most appropriate financial statement presentation and effect?

A company uses the double-declining-balance method at 20% on an asset costing ₹300,000 with no change in residual value assumptions. What is depreciation in Year 1 and the opening book value for Year 2?

Which of the following would generally NOT qualify for recognition as a provision under IAS 37?

Under the units-of-production method, which variable primarily drives the periodic depreciation expense?

An entity sells products with a one-year warranty. Past data shows 4% of sales require repairs costing on average 30% of the product’s selling price. For current-year sales of ₹40,000,000, what provision for warranty should be recognized?

A machine costing ₹500,000 has an estimated residual value of ₹20,000 and a useful life of 10 years. Under straight-line depreciation, what is the annual depreciation charge?

Which statement best distinguishes a provision from a reserve under financial accounting?

---- acts as the nodal marketing agency in the co-operative sector at national level.

If cost of goods sold is Rs.80, 000 and GP ratio is 20% on sales, then the sales will be.

---- is called Book of Prime Entry.

Which of the following is the example of real a/c?

The oldest form of business organization is:

The process of transferring the debit and credit items from a journal to their respective accounts in the ledger is called:

Preliminary expenses are examples of:

The rent paid to the land lord is credited to:

Which of the following is revenue expenditure?

Debit what comes in and credit what goes out is applicable to:

The preparation of Trail Balance helps in locating:

Provision for discount on debtors is.......

All other errors except ..... are known as technical or clerical errors

---- is one of the methods of misappropriation of cash.

Unclaimed dividend should be shown on the ---- balance sheet.

Interim dividend is paid out of ......

Quarries are examples of --- assets.

Salary paid by cheque is credited to

Reserve created in the final account is the duty of ---.

Super profit method is used in the valuation of .......

The day book should be necessarily be signed by .......

Interest on capital will be shown on the ...... side of P & L Account.

Long term liabilities are also known as

Debtors are also called ....

Bad debts recovered are.....

A bad debt reserve maintained by a co-operative society is ?

Chairman of Kerala Co-operative Employees Welfare Fund?

...... is the National Federation of Dairy Co-operatives in India?