Depreciation is charged on___
A) Continuous basis
B) Temporary basis
C) Daily basis
D) Monthly basis
Correct Answer:
Verified
Q12: These reserves are not shown in the
Q13: A reserve is created but its identity
Q14: The value of asset can be reduced
Q15: Provision for depreciation account appears on the
Q16: If the asset is sold, the provision
Q18: Loss of usefulness occasioned by improved production
Q19: Depreciation applies to_
A)Current assets
B)Wasting assets
C)Intangible assets
D)Fixed assets
Q20: Depletion applies to_
A)Current assets.
B)Wasting assets
C)Intangible assets
D)Fixed assets
Q21: Income tax authorities recognize this method _
A)Straight
Q22: Amortization applies to
A)Current assets.
B)Wasting assets.
C)Intangible assets.
D)Fixed assets
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