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Q. What do you mean by depreciation? What are the causes for depreciation? Explain the two methods of depreciation. Depreciation means a fall in the quality, quantity or value of the asset. It is defined as the determination in the cost of an asset during a particular period due to wear and tear and obsolescence. It is the allocation of the cost of capital expenditure to the periods of its use. It is used to describe the decrease in book value of an asset. It is considered an expense and is listed in an income statement under expenses. Causes for Depreciation: -Wear and Tear -Efflux of time -Obsolescence -Accident -Fall in market price Methods of depreciation 1.Straight line depreciation 2. Reducing balance method
Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans
An item of plant was purchased for $100,000 on 1 January 2009. At that time its estimated residual value was $5,000. At 31 December 2009 prices, the residual value was estimated at
Q. What is Capital Gain? Capital Gain - Portion of total GAIN recognized on the sale or exchange of a no inventoryasset that isn't taxed as ORDINARY INCOME. Capital gains have
What have been the dividends per share? What is the CAGR of dividends per share from 2008 to 2010? What was the retention ratio for 2008 to 2010? Calculate the DPS growth
Statute of Limitations - This sets out the period within that actions may be brought upon claims or within which rights may be enforced. As it concerns to tax returns, statute of l
Q. What do you mean by Fiscal Year? Fiscal Year - Period of 12 consecutive months chosen by an entity as its ACCOUNTING period that may or may not be a calendar year. Fixed Ass
Series Arithmetic Mean Standard Deviation Small-company stocks 15.9 % 32.8 % Large-company
Payback Period and Net Present Value XYZ Software, Inc., has the following mutually exclusive projects. Year Project A Project B
1) Which inventory methods are used by Lowe's? (Mark all that apply.) a. Weighted-average b. FIFO c. LIFO d. Dollar-value LIFO e. Retail LIFO f. Retail Dollar-value LIFO g. If mult
Requirements: Part I Access the IFRS and the Generally Accepted Accounting Principles (GAAP) of your country. a. Note ten differences between the two sets of GAAP. Part II Ac
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