alleryStart learning →Cost Rs 80,000 and accumulated depreciation Rs 32,000. What is the book value of the asset?
ARs 32,000
BRs 1,12,000
CRs 40,000
DRs 48,000
Answer & Solution
Correct answer: D. Rs 48,000
Book value is cost minus accumulated depreciation, so 80,000 minus 32,000 is 48,000.
Keep practising Depreciation and Amortisation
Browse all Depreciation and Amortisation questions for CA Foundation, or explore more Accounting topics.
Related questions
How does depreciation expense affect the reported net income?Depletion is most used in which group of industries?Depletion is the using up of natural resources by which activity?Cost depletion allocates the cost of a resource in proportion to what?Pooling of similar assets bought in one year helps tax systems to?Buildings are generally given what depreciable lives under tax systems?For tax depreciation, bare land generally receives?A tax system that allows a fixed percentage of cost each year is called?