It is not necessary to depreciate an asset if it is not in use.

i. This statement is True. This accounting concept explains that every business transaction has two aspects viz. (i) acquisition or increase in the asset of the business and (ii) creation or increase...

i. (c) an intangible ii. (b) Personal iii. (b) Giver iv. (c) Goes out v. (b) Expenses and Losses

i. Credited ii. Capital iii. Debited iv. Double Entry System v. Income and Gains

(a) Return on Investment = `("Net Profit before Interest, Tax and Dividend")/("Capital Employed")xx100` `=("Rs. 14,50,000")/("Rs.88,00,000")xx100=16.48%`. Net Profit before Interest, Tax and Dividend = Rs. 14,50,000. Capital Employed = Fixed Assets...

The total amount whatsoever received by selling used or obsolete assets or their spare parts is called residual.

The profit or loss on the sale of assets is transferred to the profit and loss account.

Profit on sale of the asset is debited to an asset account.

This statement is True. Goodwill is the reputation or name and fame of a business organization in the market. It is the money value of a business reputation earned by a...

Correct option is: (B) Intangible asset

Correct option is: (D) Fictitious Asset