Question : If the Balance Sheet does not have an item of Provision for Depreciation or Accumulated Depreciation, it means that fixed assets are shown in the Balance Sheet at their--------------.
Option 1: Written down value
Option 2: Original cost
Option 3: Both 1 and 2
Option 4: None of the above
Correct Answer: Written down value
Solution : Answer = written down value When the Balance Sheet does not have an item of Provision for Depreciation or Accumulated Depreciation for both years, it means that the fixed assets are shown in the Balance Sheet at their written-down value. Hence, the correct option is 1.
Question : When the Balance Sheet has an item of Provision for Depreciation or Accumulated Depreciation for both years, it means that the fixed assets are shown in the Balance Sheet at their-------------.
Question : What is the syntax for calculating depreciation on written down value method ?
Question : Which of the following statements is correct?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile