Under diminishing balance method,
A) The rate of depreciation falls every year
B) the amount on which deprecation is calculated falls every year
C) the rate as well as amount of depreciation falls every year.
D) the rate as well as amount of depreciation remains constant.
Correct Answer:
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Q1: Loss on sale of machinery should be
Q2: Depreciation arises because of
A)Fall in market value
Q3: When provision for depreciation account is maintained,
Q4: If original cost of an asset is
Q6: The term 'depletion' applies to decrease in
Q7: The term amortization applies to decrease in
Q8: For providing depreciation on lease hold property,
Q9: Accumulated depreciation is an example of
A)An expense
B)an
Q10: Share application is classified as
A)Real account
B)personal account
C)impersonal
Q11: A newly established company cannot issue shares
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