MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Depreciation

The asset whi...

Question

The asset which is an exception from depreciation is …………

A

Computer

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

B

Furniture

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

C

Land

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

D

ATM Machine

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

Open in App

Solution

The correct option is C
Land

Depreciation is not charged on Land.

Suggest Corrections

thumbs-up

0

Similar questions

Q. For which of the following asset depreciation can be applied?
(I) Land
(II) Furniture
(III) Machinery

Q. On 1st April, 2018, following balances appeared in the books of M/s Krishna Traders:

	₹
Furniture Account	50,000
Provision for Depreciation on Furniture Account	22,000

On 1st October, 2018 a part of Furniture purchased for ₹ 20,000 on 1st April, 2014 was sold for ₹ 5,000. On the same date a new furniture costing ₹ 25,000 was purchased.
The depreciation was provided @ 10% p.a. on original cost of the asset and no depreciation was charged on the asset in the year of sale. Prepare 'Furniture Account' and 'Provision for Depreciation Account' for the year ending 31st March, 2019.

Q. N.Ltd, purchased machine for Rs 1,00,000 on 1.1.2012. Installation expenses were Rs 10,000. Life of the asset is 5 years at the end of which asset can be sold at Rs 5,000. Depreciation rate is 15% on WDV. Depreciation for 4th year = Rs______?______.

Q. Land is not a depreciable asset because __________.

Q. On 1st April, 2010, following balances appeared in the books of M/s Krishna Traders:

	₹
Furniture Account	50,000
Provision for Depreciation on Furniture Account	22,000

On 1st October, 2010 a part of Furniture purchased for ₹ 20,000 on 1st April, 2006 was sold for ₹ 5,000. On the same date a new furniture costing ₹ 25,000 was purchased.
The depreciation was provided @ 10% p.a. on original cost of the asset and no depreciation was charged on the asset in the year of sale. Prepare 'Furniture Account' and 'Provision for Depreciation Account' for the year ending 31st March, 2011.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon