A fall in the value of a fixed asset due to technological...
A fall in the value of a fixed asset due to technological changes is described as?
Superfluity
Wear and tear
Obsolescence
Depletion
Correct answer is C
Obsolescence is a process by which a machine, or in this case, a fixed asset becomes outdated, no longer used or losses value as a result of changes in the level of technology
The rule of accounting equation requires that account payable should be placed under? ...
\(\begin{array}{c|c} & 1/7/10 & 30/6/11 \\ & D & D \\ \hline \text{Stock} & 1,46...
Gross profit b/d Less: Salaries and wages ...
Nwoye buys stock and pays by cheque. The entries in the books of Nwoye is Debit ...
Which of the following is not true of revenue expenditure? i. It is incurred in one period of...