Long term assets without any physical existence but, possessing a value are calledCurrent assets OFixed assets OInvestments OIntangible assets OAt the batance sheet date, the balance on the Accumutated Provision for Depreciation Account isSimply deducted from the asset inthe Balance SheetTransferred to DepreciationAccountTransferred to the Asset Account OTransferred to Profit and LossAccount

(d) intangible assets is the correct option. Intangible assets : intangible assets are those assets…

Long term assets without any physical existence but, possessing a value are called Current assets O Fixed assets Investments O Intangible assets At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is

Long term assets without any physical existence but, possessing a value are called Current assets O Fixed assets Investments O Intangible assets At the balance sheet date, the balance on the Accumulated Provision for Depreciation Account is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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