According to $A S - 6$ , 'Depreciable assets' are assets which __________.

are expected to be used during more than one accounting period

No worries! We‘ve got your back. Try BYJU‘S free classes today!

have a limited useful life

No worries! We‘ve got your back. Try BYJU‘S free classes today!

are held by an enterprise for use in the production or supply of goods and services, for rental to others, or for administrative purposes and not for the purpose of sale in the ordinary course of business

No worries! We‘ve got your back. Try BYJU‘S free classes today!

All of the above

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is A All of the above
According to $A S - 6$ , 'Depreciable assets' are assets that are expected to be used during more than one accounting period have a limited useful life are held by an enterprise for use in the production or supply of goods and services, for rental to others, or for administrative purposes and not for the purpose of sale in the ordinary course of business

Suggest Corrections

Similar questions

Q. Which of the following is correct? Depreciable assets are those assets which:
(1) Are expected to be used for more than one accounting period.
(2) Have a limited useful life
(3) Are held for the purpose of re-sale
(4) None of these

Q. Gains on the sale of fixed assets that are not for sale in the ordinary course of business are known as _________________.

Purchase and sale of goods and services in large quantities for the purpose of resale or intermediate use is referred to as ___

Q. __________ has defined depreciation as "a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market changes. Depreciation is allocated so as to charge a fair proportion of depreciable amount in each accounting period during the expected useful life of the asset. Depreciation includes amortization of assets whose useful life is predetermined."

Q. "A business Organisation is an enterprise engaged in the production or distribution of goods for sale in a market or rending services for a price" are the words of ______.

Join BYJU'S Learning Program

According to AS−6, 'Depreciable assets' are assets which __________.

According to $A S - 6$ , 'Depreciable assets' are assets which __________.