The amount of depreciation charged on machinery will be debited to_____

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Question:
The amount of depreciation charged on machinery will be debited to_____

1.machinery account

2.depreciation account

3.cash account

4.bank account

Posted Date:-2022-01-03 14:11:30

More MCQS Questions and answers

  1. If debit side of receipt and payment account exceeds credit it represents __________
  2. Lighting expenses should be divided among the different departments on the basis of _________
  3. Loss of usefulness occasioned by improved production methods is known as_______
  4. Power expenses should be divided among the different departments on the basis of _____
  5. The balance in the asset account will not be reduced to zero under this method _____
  6. The permanent continuing and gradual shrinkage in the book value of a fixed asset is called _______
  7. Under depreciation fund method depreciation is charged to ______
  8. An advance receipt of subscription from a member of the non-profit organization is considered as an __________
  9. Carriage inward expenses should be divided among the different departments on the basis of ___________
  10. Deficit balance can be shown in balance sheet as
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  12. Depreciation arises because of_____
  13. Depreciation fund is also called ______
  14. Depreciation is a process of _________
  15. Depreciation is charged on the_________
  16. Depreciation is charged on_________
  17. Diminishing balance method is also called _________
  18. ESI PF payable by employer should be divided among the different departments on the basis of ________
  19. Estimated sale value of the asset at the end of its economic life is known as _____
  20. Expenses which can be directly identified with or incurred for particular department are called __________
  21. Expenses which cannot be identified with a particular department are called_______
  22. Factory manger s salary should be divided among the different departments on the basis of _____________
  23. Fire insurance and repairs on assets should be divided among the different departments on the basis of _________
  24. If debit side of income and expenditure account is greater it is termed as
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  26. Income and expenditure account is based on _________ Accrual accounting
  27. Income tax authorities recognize this method ______
  28. Mines quarries oilfields and forest are example of _______
  29. Provision for depreciation account appears on the _______
  30. Reciept and payment account includes _________
  31. Rent and rates should be divided among the different departments on the basis of ____
  32. Repairs to buildings maintenance of premises should be divided among the different departments on the basis of _________
  33. Selling expenses should be divided among the different department on the basis of _______
  34. The amount of depreciation charged on machinery will be debited to_____
  35. The asset account appears in the books at original cost when a ______
  36. The control of non-trading concern rest in the hand of
  37. The difference between the book value at the beginning and at the end (revaluation amount) is __________
  38. The main objective of providing depreciation is _______
  39. The main source of income for non-trading concern is _________
  40. The receipts and payments account of a non-profit organization is a __________
  41. Under annuity method the amount of depreciation is found out from _____
  42. Under depreciation fund method the amount of depreciation is calculated with reference to ________
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