XYZ has imported a machine from abroad. Which of the following is not the element of a machine's cost?
A) Purchase price of machine
B) Import duty
C) Dismantling charges
D) Refundable Tax
Correct Answer:
Verified
Q22: Amortization applies to
A)Current assets.
B)Wasting assets.
C)Intangible assets.
D)Fixed assets
Q23: In depreciation calculation the life of an
Q24: Depreciable amount plus residual value of a
Q25: Cost of fixed asset minus accumulated depreciation
Q26: The estimate about useful life of a
Q28: Which of the following fixed asset is
Q29: In calculation of depreciation, all of the
Q30: Depreciation means
A)Depletion
B)Amortization
C)Saving of Cash
D)Reduction in the books
Q31: Provision for Depreciation is
A)An appropriation of profit
B)A
Q32: A machine is purchased at a cost
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