Depreciation Pr...

An asset was purchased in $$2010$$ at $$Rs.10000$$. Calculate the opening balance amount after $$2$$years when depreciation is charged @$$10$$% p.a. under the straight line method.

An item of fixed assets which has retired from active use and is held for disposal is ______________.

Asset purchase in 2008 at $$Rs.10000$$. The depreciation amount for $$2$$ years @$$10$$% p.a under straight line method ____________.

Which of the following statement is correct?

__________ reduces the availability of the quantity of the material or asset.

Charging a period for the proportionate cost of an Intangible asset is termed as:

Obsolescence means decline in the value due to _________.

On January 1, 1992, there was a balance of Rs. 4,000 in the plant and machinery account. An addition of Rs. 2,000 was made on July 1, 1992. Accounts were closed for the year on December 31, 1992. If depreciation was charged at 10% per annum, the balance in the plant and machinery account on the closing date would be:

Depreciation, as the term is used in accounting, means ___________.

 The original cost of the asset is Rs. 2,50,000. The useful life of the asset is 10 years and net residual value is estimated to be Rs. 50,000. Now, the amount of depreciation to be charged every year will be _________.