The value of plant and machinery as on 1st January, 2005 was Rs. 80,000/- and its value as on 31th December 2005 was Rs. 1,20,000/-. During the year Rs. 10,000/ was written off as depreciation. This will result in
A. Sources of funds Rs. 30,000/-
B. Utilization of funds Rs. 50,000/-
C. Utilization of funds Rs. 40,000/-
D. Sources of funds Rs. 50,000/-
Answer: Option B
This Question Belongs to Commerce >> 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
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
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