Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 2

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1. Cost of the asset minus scrap value/ Life of the asset is the formula of

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2. The Diminishing balance method means a method by which-

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3. Which among the following is false about Diminishing balance method-

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4. Which of the following accounting concepts or principles require the calculation of depreciation of the fixed assets?

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5. Depreciation is an

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