Question

Fill in the correct words :
(i) Depreciation is decline in the value of $.............$.
(ii) Installation, freight and transport expenses are a part of $.............$.
(iii) Provision is a $.............$ against profit.
(iv) Reserve created for maintaining a stable rate of dividend is termed as$.............$.

Answer 1

Answer:

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Answer 2

The correct words are :

i. Assets

ii. Cost of goods purchased

iii. Charge

iv. Dividend equalization fund

Explanation:

The correct words are filled below.

i. Depreciation is a concept in which the value of assets get decline due to the wear and tear and obsolescence of the asset over a period of time.

Therefore, the correct word is- assets.

ii. Transportation costs or expenses, freight and installation expenses are the part of the cost of goods purchased. It is because these all expenses are associated to the movement of assets.

Therefore, the correct answer is- cost of goods purchased.

iii. Provision refer to an account that represents entity's liability. It is a belief that provision is a charge against profit in the situation of proposed dividends.

Therefore, the correct words is- charge.

iv. The reserve that is created for maintaining stable rates of the dividend is said as the equalization fund of dividend.

Therefore, the right answer is- dividend equalization fund.