Head of Accounts

Based on the cost price of the asset only

Should be straight line only

No depreciation should be provide until the final payment is made

Based on the total cost including interest

Debited to partner’s current a/c

Credited to partner’s current a/c

Not shown in current account

None of these

Cash accounting

Accrual accounting

Government accounting

Management accounting

$5000 will be debited

$5000 will be credited

No adjusted needed in capital a/c

None of these

The cash budget

The statement of financial position

The statement of changes in equity

The income statement