accounting concepts
This query is : Resolved
21 July 2016
on the basis of which accounting principles fixed asset shown in the balance sheet by deducting its depreciation.Is it going concern or historical cost. pls explaim
Amol S Joglekar
(Expert)
21 July 2016
it is based on the EXPECTED LIFE of the fixed asset. It is calculated on HISTORICAL cost.....and with the general assumption of GOING concern
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