Exam 44: Depreciation and Reserves: Understanding the Accounting Concepts

Short term provisions in the Balance Sheet include:

Share Application account is a

Debenture holders are the:

In this method depreciation is charged on the cost of asset every year:

Depreciation is the process of:

These reserves are created out of capital profits:

These are the reserves created only to strengthen the financial position or the business and to keep the funds available for any future contingency or expenditure that may be required:

Reduction in the book value of an asset over a period of time is called

Debentures issued as Collateral Security for Rs. 10,000 will be debited to:

Depletion applies to____

Securities Premium Account is shown on the liabilities side under the head:

A company is a person created by

Depreciation is charged on___

The amount of share premium received by the company is shown in the Balance Sheet under the heading:

In case debentures of Rs. 10,000 are issued at par but payable at a premium of 10% the premium payable will be debited to:

Which of the following is not one of the five areas into which social accounting can be divided?

Annual depreciation of machine is 40000, cost of machine is 500000, rate of depreciation according to straight-line method will be

XYZ has imported a machine from abroad. Which of the following is not the element of a machine's cost?

Discount allowed on reissue of forfeited shares is debited to:

A situation where a company receives applications for a smaller number of shares than offered to the public for subscription is termed as: