Multiple Choice Questions on Depreciable amount Residual value of a fixed asset ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Depreciable amount Residual value of a fixed asset ........

Accountancy (Phase -I & II) Accounting standards
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    Depreciable amount + Residual value of a fixed asset = ?

    Depreciation expenses

    Incorrect Answer

    Accumulated depreciation

    Incorrect Answer

    Cost of the fixed asset

    Correct Answer

    Future economic benefits of a fixed asset

    Incorrect Answer
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    Explanation:

    Depreciable amount + Residual value of a fixed asset = Cost of the fixed asset. Fixed assets are depreciated only to the extent of their depreciable amount, which equals cost minus the salvage value.

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