NCERT · Class 11 · Accountancy · Depreciation, Provisions and ReservesDepreciation is charged on which type of assets?
Step-by-Step Solution
Depreciation is charged on tangible fixed assets which have a limited useful life.
Detailed Options Breakdown
Option : Current Assets
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Depreciation, Provisions and Reserves.
Option 1: Fictitious Assets
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Depreciation, Provisions and Reserves.
Option 2: Tangible Fixed Assets (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 3: Land
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Depreciation, Provisions and Reserves.
💡 Study Guide: This question tests core syllabus concepts from Depreciation, Provisions and Reserves. For formulas, key summaries, and mock exam reference guides, read the full Depreciation, Provisions and Reserves Revision Notes.