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Adjustment and Depreciation
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Adjustment and Depreciation
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Adjustment and Depreciation
Accrued expenses are considered as:
Asset
Liability
Gain
Income
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Adjustment and Depreciation
Adjusting entries help allocating incomes and expenses to their __________
Cash balances
Appropriate accounting periods
Credit balances
Received or paid cash balances
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Adjustment and Depreciation
The difference between gross investment and net investment is:
Depreciation
Acceleration
Deceleration
Capital investment
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Adjustment and Depreciation
A company purchases a vehicle for $6000. It will be used for5 years and its residual value is expected tobe $1000. what is the annual amount of depreciation using straight line method of depreciation?
1000
2000
3000
3300
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Adjustment and Depreciation
Under the straight line method of charging depreciation, depreciation _______
increases every year
decreases every year
is constant
Fluctuate every year
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Adjustment and Depreciation
Profit prior in incorporation is an example of:
Capital revenue
Secret revenue
Revenue reserve
None of these
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Adjustment and Depreciation
XYZ firm has imported a machine from abroad. Which of the following is NOT the element of machine’s cost?
Purchase price of machine
Import duty
Demurrage charge
Refundable tax
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Adjustment and Depreciation
Which of the following is/are a kind of depreciation expenses?
Amortization
Depletion
Both of these
None of these
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Adjustment and Depreciation
What is the accumulated depreciation?
Sum of all depreciation expenses of a fixed asset
Depreciation expenses
Cost of depletion of assets
Future value of fixed assets
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Adjustment and Depreciation
Depreciation decreases:
Liabilities
Cash
Bank
Capita
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