Depreciation Pr...

Dinesh Garments purchased a machine for Rs. 50,000 and spent Rs. 6,000 on its erection. On the date of purchase, it was estimated that the effective life of the machine will be ten years and after ten years its scrap value will be Rs. 6000. The amount of depreciation for second year on straight-line basis is:

Which of the following is/are cause for providing depreciation?

Which of the following is/are the important characteristic of depreciation?

Amortization applies to ________________.

Depreciation is the fall in the ____________ of a fixed asset through physical wear and tear due to use or passage of time or from any other cause.

Which of the following is/are not the important characteristic of depreciation?

Fundamental objective of depreciation is/are ____________________.

Depreciation Accounting has been defined by the ________ as " a system of accounting which aims to distribute the cost or other basic value of tangible capital assets less salvage (if any) over the estimated useful life of the unit (which may be a group of assets) in a systematic and rational manner. It is a process of allocation and not of valuation".

The main objective of providing depreciation is __________________.

A decrease in value of fixed asset due to age, wear and tear ___________.