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In this method, it is assumed that the property will lose its value by a constant percentage of its value at the beginning of every year. This method is called?

In this method, it is assumed that the property will lose its value by a constant percentage of its value at the beginning of every year. This method is called? Correct Answer Straight line method

In this method a fixed amount of the original cost is deducted every year so that at the end of the utility period only the scrap value is left. Annual depreciation D = Original cost-scrap value/life in year = C-S/n, Where C- original cost, S- scrap value, n-life of the property in years and D- annual depreciation. The book value after the number of years, say N years = original cost – N*D.

Related Questions

In _____________ method, it is assumed that a property will lose its value by a constant percentage of its value and the beginning of every year.
Which of the following statements are true/ false?
1. Every employer shall be bound to pay to every employee in respect of the accounting year commencing on any day in the year 1979 and in respect of every subsequent accounting year, a minimum bonus which shall be 9.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, whichever is higher, whether or not the employer has any allocable surplus in the accounting year.
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3. If the allocable surplus exceeds the amount of minimum bonus payable to the employees, the employer is bound to pay to every employee in respect of that accounting year bonus which shall be an amount in proportion to the salary or wages earned by the employee during the accounting year subject to a maximum of 10% of such salary or wage.
4. Bonus needs to be paid within a period of eight months from the close of the accounting year.
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