Question

1.
SECTION-A
Explain the following terms in two sentences each:
1x10=10
a) Depreciation
b) Dual Aspect Concept
c) Capital Expenditure
d) Dependent Branch
e) Partnership Deed
f) Realisation Account
g) Cost Concept
h) Accrual Basis of Accounting
i) Obsolescence
i) Perpetual Inventory System
SECTION-B
Define accounting. Discuss the advantages and
disadvantages of accounting.
OR
Write notes on:
a) Branches of accounting
b) Discuss Accounting is an information system
2.
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Answer 1

Heya Mate!!

Here's the answer for ur first sub question.

1)Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes