Multiple Choice
In calculation of depreciation, all of the following items are actually estimates except:
A) Useful Life
B) Residual Value
C) Historical Cost
D) Salvage Value
Correct Answer:
Verified
Correct Answer:
Verified
Q57: AS 6 revised is an accounting standard
Q58: Income tax authorities recognize this method _<br>A)Straight
Q59: Cash loaned to a company is called:<br>A)Dividends<br>B)Debentures<br>C)Shares<br>D)Reserves
Q60: Share premium money can be used for:<br>A)Payment
Q61: Premium received on issue of shares cannot
Q63: A private invitation to the public to
Q64: The balance of the forfeited shares account
Q65: Depreciation means<br>A)Depletion<br>B)Amortization<br>C)Saving of Cash<br>D)Reduction in the books
Q66: The profit on depreciation policy is transferred
Q67: These reserves are created out of revenue