A change in depreciation method is treated as: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
Notes to Accounts are provided to:
Correct Answer: Option D
Explanation:
Notes to Accounts offer detailed breakdowns, accounting policies, and explanatory information supporting the numbers in the financial statements.
Notes to Accounts offer detailed breakdowns, accounting policies, and explanatory information supporting the numbers in the financial statements.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
The 'Recoverable Amount' is the higher of:
Correct Answer: Option D
Explanation:
Recoverable amount = higher of (fair value less costs of disposal) and (value in use).
Recoverable amount = higher of (fair value less costs of disposal) and (value in use).
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
A trader sells goods costing ₹20,000 for ₹25,000. The gross profit margin is:
Correct Answer: Option D
Explanation:
Gross profit = 5,000. Gross profit ratio on sales = (5,000/25,000)*100 = 20%.
Gross profit = 5,000. Gross profit ratio on sales = (5,000/25,000)*100 = 20%.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!