Q1: Consider the following statements :
1. Book value is the unamortized cost of the asset as it still appears on the accounting books of the business.
2. Termination of economic life implies disposal of the equipment.
Which of the statements given above is/are correct ?

One stop destination for examination, preparation, recruitment, and more. Specially designed online test to solve all your preparation worries. Go wherever you want to and practice whenever you want, using the online test platform.