If the accounting records continue to show the asset in cost price, this is:
Correct as per accounting standards
Easy to compute
Misleading the accounting information
Help to calculate in exact manner
Estimated loss in the fixed asset over a period of time is:
Loss of fixed asset
Depreciation
Appreciation
Diminishing
In balance sheet, fixed assets are recorded at a figure less than the cost price. This is known as:
Written down value
Cost price
Income price
The another name of straight line method is:
Fixed instalment method
Diminishing method
Written off method
Reducing method
The difference between balance of asset and provision for depreciation of asset account will show:
Net book value
Residual
Final accounts are prepared from:
Balance sheet
Income and expenditure account
Real account
Trial balance
Calculation of a different value each year with the same percentage of depreciation is:
Straight line method
Net book value method
Reducing balance method
Sale of a fixed asset is:
Capital expenditure
Capital receipt
Revenue expenditure
Revenue receipt
The assets are valued at the end of each financial year. This is:
Revaluation method
Depreciation of an year is included in the:
Profit and loss account
Non recurring expenses account
