Which of the following is true with respect to providing depreciation under diminishing balance method?

✅ C. Allocation

Option A : Valuation Option B : Valuation and allocation Option C : Allocation Option D : Appropriation Correct Answer : Allocation Read more

✅ D. Cost price or Market price whichever is lower

Option A : Cost Price Option B : Market Price Option C : Cost price or Market price whichever is higher Option D : Cost price or Market price whichever is lower Correct Answer : Cost price or Market price whichever is lower Read more

✅ E. All of these

Option A : Stock at the end of the financial year Option B : Stock at the beginning of the financial year Option C : Drawings Option D : Prepaid Rent & Interest received but not yet earned Correct Answer : All of these Read more

✅ B. Two column cash book

Option A : Simple cash book Option B : Two column cash book Option C : Three column cash book Option D : Petty cash book Correct Answer : Two column cash book Read more

✅ C. distribution cost.

Option A : prime cost. Option B : factory cost. Option C : distribution cost. Option D : production cost Correct Answer : distribution cost. Read more

✅ A. No change occurs to inventories for either use absorption costing or variable costing methods

Option A : No change occurs to inventories for either use absorption costing or variable costing methods Option B : The use of absorption costing produces a higher net income than the use of variable costing Option C : The use of absorption costing produces a lower net income than the use of variable costing Option D : The use… Read more

✅ C. Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales

Option A : Adding 2,200 to closing stock Option B : Deducting 1,800 from closing stock and deducting 2,200 each from debtors and sales Option C : Adding 1,800 to closing stock and deducting 2,200 each from debtors and sales Option D : Deducting 1,800 from debtors Correct Answer : Adding 1,800 to closing stock and deducting 2,200 each from… Read more

✅ C. Budget

Option A : Direct cost Option B : Cost Sheet Option C : Budget Option D : Marginal Costing. Correct Answer : Budget Read more