The depreciation on a motor vehicle that is being used for manufacturing and administration is charged to the?
- debit side of manufacturing and profit and loss account
-
debit side of profit and loss account only
- credit side of profit and loss account only
- debit side of manufacturing and balance sheet
The correct answer is: B
Explanation
'The profit and loss account is used by manufacturing concerns to ascertain the cost of production at various stages. A motor vehicle used by a manufacturing company would be depreciated to the debit side of profit and loss account