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Operating & Non-Operating Activities

Can depreciat...

Question

Can depreciation be charged only on fixed assets?

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Solution

Yes, depreciation is charged only on the fixed assets since it is essential to apportion the cost of the asset by its useful lifespan.

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Q. State whether the following Statements are True or False

1. There is need to provide depreciation if it is maintained with care.
2. Depreciation cannot be provided in case of loss in a financial year.
3. A Specific reserve can be created for any purpose.
4. Capital Reserves are not freely distributed as profits.
5. Under the written down value method depreciation is calculated on the original cost of an asset.
6. Depreciation is the process of valuation of asset.
7. Depreciation is a non-cash expense.
8. Secret reserves are disclosed in Balance Sheet.
9. General reserves is created to meet contingency liability.
10. Depreciation is charged only on fixed asset.

Depreciation on fixed assets is _________.

Depreciation On Fixed Assets Is

A company has to disclose depreciation provided on fixed assets and amortization of intangible assets under ___

Q. Depreciation is also charged on current assets.

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