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-------------.
Option 1: Written down value
Option 2: Original cost
Option 3: Both A and B
Option 4: None of the above
Correct Answer: Original cost
Solution : Answer = original cost method
If the Balance Sheet has an item of Provision for Depreciation or Accumulated Depreciation, it means that fixed assets are shown in the Balance Sheet at their original cost. This approach, known as the original cost method, reflects the historical acquisition cost of the assets rather than their written-down value. Hence, the correct option is 2.
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--------------.
Question : Which of the following statements is correct?
Question : What is the syntax for calculating depreciation on written down value method ?
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