A plant was purchased on 1st January 1999 It was depreciated...

Home / Commerce / Accounting / Question

Examveda

A plant was purchased on 1^st January 1999. It was depreciated at the rate of 12% P.A. by diminishing balance method. It was sold on 31^st March 2001 when its depreciated value was Rs. 1,50,234. What was its value on 1^st January 1999.

A. Rs. 1,80,000

B. Rs. 1,90,000

C. Rs. 2,00,000

D. None of the above

Answer: Option C

This Question Belongs to Commerce >> Accounting

Join The Discussion

Related Questions on Accounting

Accounting provides information on

A. Cost and income for managers

B. Company's tax liability for a particular year

C. Financial conditions of an institutions

D. All of the above

View Answer

The long term assets that have no physical existence but are rights that have value is known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

View Answer

The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

View Answer

Patents, Copyrights and Trademarks are

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

View Answer

More Related Questions on Accounting