A. | Heavy advertisement expenditure. |
B. |
Expenses incurred in removing the business to more convenient premises.
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C. | Preliminary expenses. |
D. | Depreciation on fixed assets. |
Option: D Explanation : Click on Discuss to view users comments. |
A. | Market value of the asset |
B. |
Historical cost or other amount substituted for the historical cost of the depreciable asset when the asset had been revalued
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C. |
Expected useful life of the depreciable asset
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D. |
Estimated residual value of the depreciable asset
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Option: A Explanation : Click on Discuss to view users comments. |
Accounting Standard Board was set up by
A. |
Institute of Chartered Accountants of India
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B. |
Institute of Cost and Works Accountants of India
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C. |
Institute of Company Secretaries of India
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D. | Government of India |
Option: A Explanation : Click on Discuss to view users comments. |
A. | Cost of goods purchased for resale. |
B. |
Wages paid for the erection of plant and machinery.
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C. | Obsolescence cost. |
D. |
Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.
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Option: B Explanation : Click on Discuss to view users comments. |
A. |
Accounting standards codify the generally accepted accounting principles
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B. |
They lay down the norms of accounting policies and practices by way of codes or guidelines
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C. |
The main purpose of accounting standards is to provide information to the user as to the basis on which the accounts have been prepared
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D. | All of the above |
Option: D Explanation : Click on Discuss to view users comments. |