Answer Posted / sandhya

Reserve is amount set aside for future expense and
provision is amount paid for future expense.

what is ment by suspence account and dummy account

1570

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How P/E ratio usefull to the different people?

1755

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What is meant by public accounting?

636

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In accounting, are assets a permanent account?

664

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What are document required by the bank to make payment for debit memo (Import). if we have allready made payment for orignal bill.

1457

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Explain me what do you think is bank reconciliation statement?

634

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What is the use of 2a, 2b & 2c form in CST ?

2072

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When Start Service Tax Deducted? How Many Percent is deduct? Service Tax deposited Date in Current 2011.

1674

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What is tally and its features?

680

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In accounting, how do you define the premises?

742

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what will be the possible question for an interview in account post as a fresher

1534

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what is the diffrence between cash flow & cash fund?

1613

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Describe a time when you have not met your goal?

637

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What Is Responsibility Accounting?

728

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M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances

1387

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