Accounting - Study Mode
[#2701] In which method of calculating depreciation, interest on the cost of the asset is taken into consideration:
Correct Answer
(A) Annuity method
[#2702] In which of the following cases Garner vs Murray rule is not applicable?
Correct Answer
(D) All of the above
[#2703] As per AS-2 valuation of inventories, inventories are assets 1. held for sale in the ordinary course of business. 2. held for sale in the special course of business. 3. in the process of production for such sale. 4. in the form of materials or supplies to be consumed in the production processor or in the rendering of services. 5. in the process of services for such sale. Select the correct answer:
Correct Answer
(C) 1, 3 and 4
[#2704] Consider the following statements: Assertion (A): Rights shares are given to equity shareholders in proportion to their share capital in the company. Reason (R): Equity shareholders assume the greatest risk in company finance. Now select your answer:
Correct Answer
(A) Both A and R are true, and R is the correct explanation of A
[#2705] Which of the following is shown in Balance sheet?
Correct Answer
(C) Both A and B