Ledger Question:
Download Questions PDF

Explain Capitalization of Internal, External Asset?

Ledger Interview Question
Ledger Interview Question

Answer:

Asset becomes capitalised when it is bought for profit motive, as an investment, and most important : when it is used.
Asset available within an organisation - Internal Asset.
Asset where they are present physically out of organisation - External Asset.

Download Ledger Interview Questions And Answers PDF

Previous QuestionNext Question
Suppose 2 companies are there, they have maintained separate chart of accounts, how can you consolidate their activities?Tell me what are the procedures of elimination during consolidation of financial statements?