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Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer?.

Solutions for Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

Here you can find the meaning of Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following statements is/are false?I. The term ‘depreciation’, ‘depletion’ and ‘amortization’ convey the same meaning.II. Provision for depreciation A/c is debited when provision for depreciation A/c is created.III. The main purpose of charging the profit and loss A/c with the amount of depreciation is to spread the cost of an asset over its useful life for the purpose of income determination.a)Only (I) aboveb)Only (II) abovec)Only (III) aboved)All (I), (II) and (III) aboveCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.