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DP
Question Practice

When an asset is disposed of and the provision for depreciation has been maintained, what is the first step?

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MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Depreciation, Provisions and Reserves
Question Bank

When an asset is disposed of a...

Single Answer MCQ
Q-00054312

When an asset is disposed of and the provision for depreciation has been maintained, what is the first step?

1

Transfer the asset to profit.

2

Close the provision account.

3

Transfer the provision to the asset account.

4

Record the sale in the cash book.

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What factor does NOT affect the calculation of depreciation?

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