Adjustment and Depreciation

After 10 years

On a regular basis

Once in 5 years

None of these

Overstatement of expenses

Understatement of expenses

Understatement of capital

Overstatement of income

Over standing the value of purchases

Completely missing out the entry for payment to creditor

Entering receipt from debtor in wrong debtor’s account

Entering purchases of machinery as a machinery running expense

Fall in the market value of an asset

Physical wear and tear

Fall in the value of money

None of these

to calculate true profit

to calculate financial position

to reduce tax burden

to reduce profit

Cost + Scrap value

Cost + Market value

Cost – Scrap value

None of these

Pakistan

South Africa

Japan

U.S.A

Debit = Expenses, Credit = Prepaid expenses

Debit = Prepaid expenses, Credit = Expenses

Debit = cash, Credit = Prepaid expenses

Debit = Expenses, Credit = Cash

profit and loss account

trading account

balance sheet

P and L appropriation account

Valuation

Allocation

Reduction

Appreciation