Interest on debentures is calculated on Face value of debentures. This interest amount is paid periodically, generally yearly or half-yearly. The interest is a charge against the profit of the company.
The parties to joint venture are called Co-ventures. With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are "co-venturers".
Under diminishing balance method, depreciation decreases every year. Since the book value reduces every year, hence the amount of depreciation also reduces every year. Under this method, the value of the asset never reduces to zero.
Legal expenses incurred on a suit for breach of contract to supply goods is a
Legal expenses incurred on a suit for breach of contract to supply goods is a Revenue expenditure. A revenue expenditure is a cost that will be an expense in the accounting period when the expenditure takes place.