Asset is completely written off is the main advantage of:
Fixed instalment method
Diminishing balance
Net book value
Depreciation
Sale of a fixed asset is:
Capital expenditure
Capital receipt
Revenue expenditure
Revenue receipt
Estimated loss in the fixed asset over a period of time is:
Loss of fixed asset
Appreciation
Diminution
How many ledger accounts does each type of fixed asset have?
2
4
6
8
Which is connected to fixed assets such as wells and mines?
Depletion
Passage of time
Prudence
The asset value cost less depreciation is:
Diminishing balance method
Written down value method
Residual method
Revaluation method
In the case of capital expenditure , the expense will be treated as:
An expenses
An income
Loss
Not an expenses
Calculation of a different value each year with the same percentage of depreciation is:
Straight line method
Net book value method
Reducing balance method
If a lease has a fixed life of a set number of years, this is due to:
Physical deterioration
Economic reason
The records can show only the estimated value of assets because of :
Reduction in the tax
By law of business
