Accounting - Study Mode
[#681] Original cost of an asset is Rs. 57,000, scrap value Rs.2,000 and estimated life 10 years. What will be the amount of depreciation in the first year according to the sum of the year's digits methods:
Correct Answer
(A) Rs. 10,000
[#682] The basic purpose of funds flow statement is to indicate the
Correct Answer
(D) increase or decrease in working capital
[#683] The accounting standard related to amalgamation of company is
Correct Answer
(A) AS-14
[#684] When interest is to be allowed on the capitals of the partners, it is generally calculated on the:
Correct Answer
(A) Capital in the beginning of the year
[#685] Out of the following, which four expenditures would be recorded in the motor van account? 1. Cost Rs. 2,00,000 2. Registration Rs. 5,000 3. Petrol Rs. 2,000 4. Salary to driver Rs. 4,000 5. Writing the company name Rs. 3,500 6. Road tax paid (one time) Rs. 4,500 Select the correct answer:
Correct Answer
(B) 1, 2, 5 and 6