Which of the following statement is correct?
| A. |
Fixed assets must always be shown at market value
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| B. |
Book-keeping and accounting are different terms
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| C. | Owner's Equity = Assets + Liabilities |
| D. | Patents is an example of current asset |
Answer : A Explanation : Jasbir Singh said: (12:38am on Sunday 26th June 2016)
According to historical cost concept Fixed assets must always be shown at market value For example:The company built its ERP in 2008 at a cost of $40 million. In 2010 it is estimated that the present value of the future benefits attributable to the ERP is $1 billion. The ERP shall stand on balance sheet at its historical costs less accumulated depreciation.
nisha said: (9:26pm on Wednesday 21st February 2018)
B..Is the right ans as book keeping is a narrower term than accounting
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Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. |
