A. |
Land, building, plant and machinery, vehicles, furniture and fittings
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B. | Goodwill and patents |
C. | Trademarks and designs |
D. | All of the above |
Option: D Explanation : Click on Discuss to view users comments. |
Cost of inventories includes
A. | Direct Material + Direct Expenses |
B. | Direct Labour + Direct Expenses |
C. |
All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition
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D. | Direct material only |
Option: C Explanation : Click on Discuss to view users comments. |
Closing stock is valued at
A. | Cost |
B. | Market value |
C. | Cost or market price whichever is lower |
D. | None of the above |
Option: C Explanation : Click on Discuss to view users comments. |
Choose the correct statement:
A. |
According to AS - 6, depreciation is to be provided on land
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B. |
According to AS - 6, depreciation is not to be provided on land under any situation
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C. |
According to AS - 6, depreciation is not to be provided on land unless it has a limited useful life for the enterprise
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D. |
AS - 6 is silent on the question of providing depreciation on land
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Option: C Explanation : Click on Discuss to view users comments. |
A. | a b c d IV III I II |
B. | a b c d III IV I II |
C. | a b c d IV III II I |
D. | a b c d III IV II I |
Option: B Explanation : Click on Discuss to view users comments. |