L&T Construction Consultant Interview Questions and Answers

Depreciation is the allocation of the cost of a tangible asset over its useful life.

• Depreciation is a non-cash expense that reduces the value of an asset over time.

• Common methods of depreciation include straight-line, double-declining balance, and units of production.

• Depreciation is important for accurately reflecting the true value of assets on the balance sheet.

• It is crucial for financial reporting and tax purposes.

• D...read more

Government grants are typically recognized as income when they are received, but may need to be recognized as deferred income and recognized over time if they are intended to fund specific future expenses.

• Government grants are usually recognized as income when received

• However, if the grant is intended to fund specific future expenses, it may need to be recognized as deferred income and recognized over time

• The treatment...read more