Home › CBSE Class 11 (Commerce) › Accountancy › Theory Base of Accounting › A computer costing Rs 50,000 has a life of 5 yea…
A computer costing Rs 50,000 has a life of 5 years. Under going concern, what is charged to profit each year?
ARs 25,000
BRs 10,000
CRs 50,000
DRs 5,000
Answer & Solution
Correct answer: B. Rs 10,000
Rs 50,000 spread equally over 5 years gives Rs 10,000 per year.
Related questions
In accounting, what does the term 'convention' connote?What do Generally Accepted Accounting Principles aim to bring?Which existing tax was subsumed under CGST?Which GST component also covers imports of goods and services?Goods moved from Madhya Pradesh to Rajasthan attract which GST?Taxes collected under CGST form the revenue of whom?Who ultimately bears the burden of GST?GST is a tax based on which principle?