Accounting MCQs
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Question 181medium
XYZ firm has imported a machine from abroad. Which of the following is NOT the element of the machine's cost?
Question 182medium
Which of the following foxed assets is not depreciated in the ordinary circumstances?
Question 183hard
In the calculation of depreciation, all of the following items are actually estimates except:
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Question 184medium
Under which method of depreciation, the amount of depreciation expenses remains constant throughout the life of the asset?
Question 185hard
An increase in the value of fixed asset is referred to as:
Question 186hard
The term _______ is generally used for the depreciation of natural resources
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Question 187medium
Which of the following is a biological asset?
Question 188hard
Which of the following is the effect on net income if a business decreases its provision for bad debts?
Question 189hard
A firm has not recorded the bad debts by mistake. Which of the following is the effect of bad debt ommission?