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61. Which among the following is not a reason for depreciation
Use of asset
Passage of time
Obsolescence
Repair of an asset
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62. Depreciation is charged on
Current asset
Fixed asset
Intangible asset
Current liability
63. Depreciation helps in determining
Accurate level of profit
Increases the value of an asset
Revenue generation
increase the burden of tax
64. The asset which is an exception from depreciation is
Computer
Furniture
Land
ATM Machine
65. Which of the following is true about the straight-line method?
Complex method
Cost of depreciation remains constant
Cost of depreciation changes every year
P&L account debited with different amount every year
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