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NEW QUESTION: 1
A. Option D
B. Option C
C. Option B
D. Option A
Answer: A,D
NEW QUESTION: 2
Which of the following is not subject to depreciation?
A. machinery
B. land
C. automobiles
D. land improvements
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Land has unlimited useful life and is not consumed when it is used, and therefore not subject to depreciation.
NEW QUESTION: 3
In case of an individual and HUF cash in hand in excess of ............... shall be included in assets
A. Rs. 5000
B. Rs. 10000
C. Rs. 50000
D. Rs. 25000
Answer: C