Total amount of depreciation provided on the written down value method at the rate of 10% p.a on Rs 10,000 for first three years will be

_____ is the permanent and continuous decrease in the book value of a fixed asset due to use, effusion of time, expiration of legal rights or any other cause.

If selling price is more than the book value of the asset on the date of sale, it is

_____ method of depreciation is calculated on the original cost of assets.

The term depletion is used for

The estimated sale value of the asset at the end of it's economic life is called

Under diminishing balance method, depreciation

The amount of depreciation charged on a machinery will be debited to

Loss on sale of fixed asset appear on the

All assets whose benefit is derived for a long period of time, usually more than one year are called as