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If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer?.

Solutions for If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.

Here you can find the meaning of If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice If a firm changes its depreciation method from Fixed Instalment Method to Diminishing Balance Method with retrospective effect, what must be done?a)Continue charging depreciation as per the new method from the current year.b)Recalculate past depreciation under the new method and adjust the difference in the current year.c)Reverse all past depreciation and start afresh.d)Use the old method until the asset is fully depreciated.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice B Com tests.