PLS ONLT ATTEMPT IF YOU ARE SURE ABOUT ALL ANSWER, I NEED ONLY ANSWERS 1. deprec

Question

PLS ONLT ATTEMPT IF YOU ARE SURE ABOUT ALL ANSWER, I NEED ONLY ANSWERS

1. depreciation is another form of amortisation O true O false O partial true O no comments 2. financial statements comprises of O balance sheet and notes O profit and loss accout O cash flow statement O all the above 3 if partners maintain both fixed capital and current accounts, which of the following would normally be credited to a partner's capital account? O interest on capital O goodwill being written off O profit on revaluation O loss on revaluation

Explanation / Answer

1.

False, Depreciation is method used to account for dimunition in the value of assets due to use of assets. While amortisation is accounted to allocate the cost of intangible asset over the useful life of asset.

2.

All of the above

3.

Interest on capital

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