Depreciation is always charged on ___________assets

Current

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Fixed

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Fictitious

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Intangible

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Solution

The correct option is B
Fixed

Any fixed asset that is acquired by a business is subjected to wear and tear and obsolescence over a time. This decrease in monetary value is calculated by a measure in accounting referred to as depreciation.
Hence, the correct option is (B)

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Similar questions

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.

Q. Depreciation is always charged on ______ Assets.

Q. Under which method of depreciation annual depreciation charges bears a fixed % of book value of the assets

___is a method of depreciation, in which the cost of the asset is spread uniformly over the life years by writing off a fixed amount every year, where as in ___ method of depreciation, a fixed rate of depreciation is charged on the book value of the asset over its useful life.

tangible asset

2011-12 9,00,000

2010-11 8,00,000

adjustment :

depreciation charged on tangible asset during the year amounted to Rs 3,00,000

how to calculate this ?? is there a need to prepare fixed asset a/c ?? if no then how to do this without fxed asset a/c ?

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Depreciation is always charged on ___________assets

The correct option is B Fixed Any fixed asset that is acquired by a business is subjected to wear and tear and obsolescence over a time. This decrease in monetary value is calculated by a measure in accounting referred to as depreciation.Hence, the correct option is (B)

The correct option is B
Fixed

Any fixed asset that is acquired by a business is subjected to wear and tear and obsolescence over a time. This decrease in monetary value is calculated by a measure in accounting referred to as depreciation.
Hence, the correct option is (B)