The cost of the motor car as on 1st January 1987 is Rs. 70,000. The rate of depreciation is 10% P.A. The balance of motor car on 1st January 1991 by fixed installation method and by written down value method will be
A. Rs. 42,000, Rs. 45,927
B. Rs. 45,927, Rs. 47,526
C. Rs. 35,000, Rs. 39,415
D. Rs. 45,927, Rs. 48,718
Answer: Option A
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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
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
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
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Need 2 be discussion