CAN U EXPLAIN QUESTION 7 AND QUESTION 13 OF MCQ OFCHAPTERWISE TEST ON DEPRECIATION AS I AM NOT ABLE TO UNDERSTAND THOSE QUESTIONS AND ANSWERS.
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However, in response to your doubt against Question 7, Provision is that amount which retained by the business to meet the known future liabilities such as Provision for Taxation, Provision for Doubtful Debts etc. These liabilities are known to the business.
However, we are extremely sorry that there is an error with question number 13. It has already been recorded and will be updated on our site soon.
I am providing you with the missing information of question 13 i.e.
However, in response to your doubt against Question 7, Provision is that amount which retained by the business to meet the known future liabilities such as Provision for Taxation, Provision for Doubtful Debts etc. These liabilities are known to the business.
However, we are extremely sorry that there is an error with question number 13. It has already been recorded and will be updated on our site soon.
I am providing you with the missing information of question 13 i.e.
'Calculate the amount of depreciation to be charged annually if an amount equal to Rs 6,000 is refundable at the end of 5 years.
This will help you in solving the question. If you still find any difficulty, then do get back to us. We assure you our help.
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