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Standard XI
Accountancy
Depreciation
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Mention Five areas in which different accounting policies are followed by companies.
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Solution
The following are the areas in which accounting policies are followed:
(i) Valuation of fixed assets;
(ii) Valuation of Investments;
(iii) Valuation of inventories;
(iv) Treatment of goodwill, and
(v) Methods of depreciation.
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