If the book value of an asset stands at________per cent of the original cost, a company need not provide depreciation on it.

Related Mcqs:

Which of the following will not lead to creation of secret reserve?

A. Undervaluation of closing stock B. Charging capital expenditure to revenue C. Goods sent on consignment being shown as actual sales D. Charging higher rates of depreciation on fixed assets than actually required...

Which of the following is a revenue reserve?

A. Capital redemption reserve B. Security premium account C. Debenture redemption reserve D. Capital reserve...

The board of directors shall appoint first auditor of a company

A. With in one month of completion of capital subscription state of the company B. With in one month of the promotion of the company C. With in one month of the commencement of the business of the company D. With in one month of incorporation of the company...

Audit of banks is an example of_____________?

A. Statutory audit B. Balance sheet audit C. Concurrent audit D. All of the above...

Which of the following statements is, generally, correct about the reliability of auditevidence?

A. To be reliable, evidence should conclusive rather than persuasive B. Effective internal control system provides reliable audit evidence C. Evidence obtained from outside sources routed through the client D. All are correct....