GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not required to be disclosed according to AS-6?
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Depreciated value of the assets
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The depreciation methods used
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The total depreciation for the period for each class of assets
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The gross amount of each class of depreciable assets and the related accumulated depreciation
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Explanation:
Detailed explanation-1: -AS-6 deals with depreciation of the tangible asset. Hence, only the historical cost, accumulated depreciation on the asset and total depreciation for the period for each class of asset will be recorded. Depreciable value of asset is not to be disclosed according to AS-6.
Detailed explanation-2: -Answer and Explanation: The correct answer is c. land. Land is a fixed asset that always has its value increasing and is not subject to depreciation.
Detailed explanation-3: -Straight Line. Declining Balance. Double Declining Balance. Sum of the Years’ Digits. Units of Production. 08-Aug-2022
There is 1 question to complete.