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
Depreciation is charged on _______basis.
Temporary
Permanent
None of these
All of these
Under which of the following methods amount of depreciation on a fixed assets remain constant year after year_______.
Fixed installment method
Annuity method
Sinking fund method
Depreciation is the process of
Valuation
Allocation
Both of these
This term is used to write off intangible assets such as patents, copyrights etc. Identity the term.
Amortization
Depletion
Depreciation
Fluctuations
Depreciation charged in the initial year will be more in the case of ---------- method
Diminishing method
Written down value method
Both A and B
A reserve is created only out of ________.
Profit
Capital
Asset
Reserve shows excess of assets over________.
Receipts
Income
Liabilities
The reserve that is created out of profit to meet any unforeseen contingency is called_________reserve.
General reserve
Specific reserve
Dividend equalization reserve
Reserve for replacement of assets
If any reserve is created for definite purpose, it is known as