Which of the following is a double entry for deprecation expenses?
A. Accumulated depreciation Debit and depreciation expenses Credit
B. Depreciation expenses Debit and accumulated depreciation Credit
C. Cash Debit and Depreciation expenses Credit
D. Depreciation expenses Debit and Cash Credit
Answer: Option B
Solution(By Examveda Team)
Depreciation expenses Debit and accumulated depreciation Credit is a double entry for deprecation expenses.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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