The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?

Related Mcqs:

Which one of the following should be considered a revenue expenditure?

A. 1000 paid for the execution of a new plant B. Loss of 10,000 incurred in increasing the sitting accommodation of a hotel C. Damage paid on account of breach of a contract to supply certain goods D. Repair to machinery purchased, second hand....

Expenses of the following nature are treated as a Revenue expenses except__________?

A. Expenses for day to day running of the business B. Putting the new asset in working condition C. Depreciation D. Purchase of raw material...

The entry for creating a Provision for bad debts is_____________?

A. Debit Provision for Bad Debts A/c and credit Debtors A/c B. Debit Debtors A/c and credit Provision for Bad Debts A/c C. Debit Provision for Bad Debts A/c and credit Profit & Loss A/c D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c....

Which of the following statements is false ? select the false from below options

A. Balance Sheet discloses financial position of the business B. A person who owes to the business is called Debtor C. Decrease in the value of the asset could decrease the value of a liability D. Assets are to be shown in the Balance Sheet at the realizable value...

Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?

A. 1,600 B. 1,500 C. 1,000 D. 1,800...