Which of the following factors are primarily considered to determine the economic life of an asset?

Related Mcqs:

Identify the correct sequence of accounting process

A. Communicating→Recording→Identifying B. Recording→Communicating→Identifying C. Identifying→communicating→recording D. Identifying→recording→communicating...

General journal is a book of _______ entries?

A. First B. Original C. Secondary D. Generic...

Petty cash balance is a/an___________?

A. Assets B. Expenditure C. Liability D. None...

A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?

A. Loss of 20,000 B. Loss of 22,000 C. Loss of 11,000 D. Profit of 11,000...

Which of the following will not appear in Profit and Loss Account of a business?

A. Drawings B. Bad debts C. Accrued expenses D. Reserve for discount on Sundry Creditors...