MyQuestionIcon

1

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

AE for Buying Assets

Write the wor...

Question

Write the word/term/pharse which can substitute each of the following statement :

Sum of purchase price of Machinery and installation charges if any, incurred on it

Open in App

Solution

Sum of purchase price of Machinery and installation charges if any, incurred on it- Cost of the asset

Explanation:
The total cost of an asset is the amount so spent to acquire that asset along with the related expenses (such as installation, erection charges, transportation costs, wages paid to labourers to install, etc.). All these related expenses are basically incurred to bring the asset in useable form.
Algebraically:

Suggest Corrections

thumbs-up

0

Similar questions

Q. Write the word / term / phrase, which can substitute each of the following statements.

Expenses incurred on dissolution of a firm.

Q. Give the word / term or phrase which can substitute each of the following statement.

The transport expenses incurred to carry the goods purchased by the firm.

Q. Write a word or phrase or a term which can substitute each one of the following statements.

A trader who purchases goods from wholesalers.

Q. Write a word or phrase or term which can substitute each one of the following statements.

Scheme announced by SIDBI for purchasing mobile sales van.

Q. Write the word , term or phrase which can substitute each of the following statement.
An account where total of Purchases Book is posted.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Accounting Equation 1

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

AE for Buying Assets

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon