Closing Stock Is Valued at
a) Cost Price b) Market Price c) Net Realisable Value d) At Cost or Net realisable whichever is Less Answer:... View Article
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What Is the Matching Principle in GAAP Accounting?
The matching principle states that a business should report the expenses incurred during an accounting period in which the related... View Article
What Is the Difference Between US GAAP and Indian GAAP?
The difference between US GAAP and Indian GAAP is that US GAAP does not allow revaluation of property, plant and... View Article
Is Fixed Deposit a Current Asset?
Fixed deposit that is for a term of one year is termed as current asset, while fixed deposit having a... View Article
Are Intangible Assets Fixed Assets?
Intangible assets are considered as fixed assets for the businesses as they generate value for the businesses over a period... View Article
How to Depreciate Fixed Assets?
Fixed assets can be depreciated by the following methods: Straight line method WDV (Written Down Value) Method Also read: MCQs... View Article
Is a Car a Fixed Asset?
Yes, a car is regarded as a fixed asset or capital asset as it is useful for the business in... View Article
What Is Meant by Revenue and Expenditure?
Revenue refers to the income that is generated by the business from its daily operations. It can be considered as... View Article
Is Depreciation a Revenue Expenditure?
Depreciation of fixed assets is considered as a revenue expenditure since the asset is used for the daily operations of... View Article
What Is the Difference Between Capital Expenditure and Revenue Expenditure?
The difference between capital expenditure and revenue expenditure is that capital expenditure is done for purchasing capital assets while revenue... View Article
What Is Deferred Revenue Expenditure?
Deferred revenue expenditure refers to those expenses which will be incurred in the current accounting period but the benefits of... View Article
What Is Revenue Expenditure?
Revenue expenditures are those expenses that are borne by the company during the course of normal business operations. These benefits... View Article
What Are Net Fixed Assets on the Balance Sheet?
Net fixed assets on a balance sheet are net book value of all fixed assets that is determined by subtracting... View Article
What Are Fixed Assets on a Balance Sheet?
Fixed assets are recorded in the balance sheet under the PP&E category. They are also known as capital assets. Also... View Article
Is Trademark a Fixed Asset?
Yes, trademark is considered as a fixed asset as it is used by the business for a long time. It... View Article
Is Rent a Fixed Asset?
In an accrual basis of accounting, if rent is paid in advance, it is considered as an asset, and once... View Article
Is Office Equipment a Fixed Asset?
Yes, office equipment is considered a fixed asset or a non current asset. It will be used by the business... View Article
Is Land a Fixed Asset?
Land is regarded as a fixed asset for a business, as it provides appreciation in the long term. It is... View Article
What Is the Person Who Draws a Bill of Exchange Known as?
(A) Drawer (B) Payee (C) Drawee (D) None of the above Answer: (A) Drawer In bill of exchange, there are... View Article
What Are the Advantages and Disadvantages of Decentralization?
The following are the advantages and disadvantages of decentralization Advantages: It reduces the burden on the top management. It enables... View Article
