Find out the odd one and state reason
To ascertain the true result
To know the financial position
To present true balance sheet
To return funds for replacement
Profit on sale of fixed assets
Profit on revaluation of fixed assets
Profit on sale of goods
profit on redemption of debentures
A________ is created after ascertaining the profit.
Reserve
Provision
Depreciation
None of these
Reserve which are not shown in balance sheet are called_________.
Capital reserve
Revenue reserve
Secret reserve
________refers to writing off the cost of intangible assets like patents, copyright, trademarks, franchisers, leasehold mines which have entitlements for the use of a specified period of time.
Amortization
Depletion
Both of these
Depreciation decreases only the________ value of the asset.
Book value
Market value
Cost price
Depreciation is charges on ________assets only.
Intangible
Tangible
Wasting
Assets acquired for prolonged use are known as________ assets.
Current
Fixed
_________ cannot be utilized only for the purpose for which It is meant.
All of these
Depreciation arises because of
Fall in the market value of an asset
Physical wear and tear
Fluctuation
Deflation
