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Providing depreciation ensures sufficient cash for asset replacement.

A. True

B. False

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  1. Copyright is an example of
  2. The cost of a machine is Rs.5,70,000. Its scrap value is Rs.25,000 and useful life is 10 years. The…
  3. The life span of a company is dependent on the life span of the
  4. Capital of the business is an example of external liability.
  5. An expense incurred to keep the machine in working condition is a capital expenditure.
  6. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  7. Choose the odd one out
  8. HUF stands for
  9. Sale of Office Furniture should be credited to Sales Account.
  10. Depreciation is not charged on _______________.
  11. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  12. Which of the following events is not a transaction?
  13. Providing depreciation ensures sufficient cash for asset replacement.
  14. Depreciation cannot be provided in case of loss, in a financial year.
  15. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  16. Wages and Salaries is a charge against
  17. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  18. All indirect expenses are charged against
  19. Net Realisable Value of an asset means
  20. Bank Reconciliation statement is prepared to arrive at the Bank Balance.
  21. An expenditure intended to benefit the current period is revenue expenditure.
  22. WDV stands for
  23. The basic unit of measurement of the accounting system is ______________.
  24. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  25. The aggregate of direct material, direct labour and direct expenses is known as
  26. The first step of accountancy is
  27. A part of the profit distributed to the shareholders is known as
  28. The short description of a transaction written at the end of a journal entry is known as _______________.
  29. The balance in the Cash Book represents net income.
  30. E. & O.E.