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RPC Ltd. follows the written down value method of depreciating machinery year after year by applying the principle of
- a)Comparability.
- b)Convenience.
- c)Consistency.
- d)All of the above.
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
RPC Ltd. follows the written down value method of depreciating machine...
As per consistency principle, we should follow same methods in accounting for recording transactions, calculating the cost because it will help us compare. So, basic principle is consistency.
Most Upvoted Answer
RPC Ltd. follows the written down value method of depreciating machine...
Intangible assets are long-term assets that have no physical existence but are rights that have value. They are considered to be the opposite of tangible assets. Intangible assets are an important part of a company's balance sheet and can be valuable assets for companies in many different industries.
Examples of Intangible Assets:
1. Patents: These are exclusive rights granted to inventors by the government to produce, use, and sell their inventions for a certain period of time.
2. Trademarks: These are symbols, logos, or names that are used to identify a company's products or services.
3. Copyrights: These are exclusive rights granted to authors, artists, and musicians to use and distribute their work.
4. Goodwill: This is the value of a company's brand name, reputation, and customer relationships.
5. Licenses: These are rights granted to a company to use a particular technology or intellectual property.
Importance of Intangible Assets:
Intangible assets can be valuable to companies because they can provide a competitive advantage and help to generate revenue. They can also be used as collateral for loans and can be sold or licensed to other companies.
Conclusion:
In conclusion, intangible assets are important assets for companies that have no physical existence but have value. They are an important part of a company's balance sheet and can provide a competitive advantage, generate revenue, and be used as collateral for loans.
Examples of Intangible Assets:
1. Patents: These are exclusive rights granted to inventors by the government to produce, use, and sell their inventions for a certain period of time.
2. Trademarks: These are symbols, logos, or names that are used to identify a company's products or services.
3. Copyrights: These are exclusive rights granted to authors, artists, and musicians to use and distribute their work.
4. Goodwill: This is the value of a company's brand name, reputation, and customer relationships.
5. Licenses: These are rights granted to a company to use a particular technology or intellectual property.
Importance of Intangible Assets:
Intangible assets can be valuable to companies because they can provide a competitive advantage and help to generate revenue. They can also be used as collateral for loans and can be sold or licensed to other companies.
Conclusion:
In conclusion, intangible assets are important assets for companies that have no physical existence but have value. They are an important part of a company's balance sheet and can provide a competitive advantage, generate revenue, and be used as collateral for loans.
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Community Answer
RPC Ltd. follows the written down value method of depreciating machine...
He is following principle of consistency..because this principle states that there should be continuity in following a principle...If a principle is being following in a year..then that principle should be in consistent way mean to follow the same principle in the coming future times..This has benefit of making the data comaparative...
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RPC Ltd. follows the written down value method of depreciating machinery year after year by applying the principle ofa)Comparability.b)Convenience.c)Consistency.d)All of the above.Correct answer is option 'C'. Can you explain this answer?
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RPC Ltd. follows the written down value method of depreciating machinery year after year by applying the principle ofa)Comparability.b)Convenience.c)Consistency.d)All of the above.Correct answer is option 'C'. 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 RPC Ltd. follows the written down value method of depreciating machinery year after year by applying the principle ofa)Comparability.b)Convenience.c)Consistency.d)All of the above.Correct answer is option 'C'. 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 RPC Ltd. follows the written down value method of depreciating machinery year after year by applying the principle ofa)Comparability.b)Convenience.c)Consistency.d)All of the above.Correct answer is option 'C'. Can you explain this answer?.
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