1.
X Ltd. follows the Written Down Value Method of depreciating machinery year after year due to:
1 out of 10
3.
A liability arises because of:
3 out of 10
5.
Providing depreciation on fixed asset is in accordance with which of the following principles concepts:
- Going concern.
- Matching Concept.
- Materiality.
5 out of 10
8.
M/s. Future Ltd. has invested ₹ 10,000 in the shares of Relicam Industries Ltd. Current market value of these shares is ₹ 10,500. Accountant of Future Ltd. wants to show ₹ 10,500 as value of investment in the books of accounts, which accounting convention restricts him from doing so?
8 out of 10
9.
Sale is recognised as revenue:
9 out of 10
10.
Goods taken by the proprietor for personal use is:
10 out of 10
