Depreciation
Commerce ⇒ Accountancy
Depreciation starts at 11 and continues till grade 12.
QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Depreciation.
How you perform is determined by your score and the time you take.
When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.
See sample questions for grade 12
Define depreciation in the context of accountancy.
Explain the difference between Straight Line Method and Written Down Value Method of depreciation.
Explain the impact of not charging depreciation on the financial statements.
Explain the term 'residual value' in relation to depreciation.
A company purchased a machine for Rs. 1,20,000 on 1st April 2021. Depreciation is to be charged at 15% per annum under the Written Down Value Method. Calculate the book value of the machine at the end of the second year.
A company purchased a machine for Rs. 50,000. The rate of depreciation is 10% per annum under the Written Down Value Method. Calculate the depreciation for the second year.
A company purchased a vehicle for Rs. 5,00,000. The estimated useful life is 5 years and the residual value is Rs. 50,000. Calculate the annual depreciation using the Straight Line Method.
A company purchased equipment for Rs. 2,00,000. The estimated useful life is 5 years and the residual value is Rs. 20,000. Calculate the rate of depreciation under the Straight Line Method.
Depreciation is charged to which account? (1) Asset Account, (2) Depreciation Account, (3) Profit and Loss Account, (4) Capital Account
Depreciation is not provided on which of the following? (1) Plant, (2) Land, (3) Building, (4) Vehicle
Depreciation is provided as per which accounting principle? (1) Consistency, (2) Matching, (3) Prudence, (4) Materiality
Under which method does the amount of depreciation remain the same every year? (1) Written Down Value Method, (2) Straight Line Method, (3) Annuity Method, (4) Depletion Method
Depreciation is a process of ________ and not of ________.
Depreciation is calculated on the ________ value of the asset under the Written Down Value Method.
Depreciation is charged on ________ assets.
If the useful life of an asset increases, the annual depreciation expense will ________.
Is depreciation charged on land? (Yes/No)
State whether the following statement is true or false: 'Depreciation is a non-cash expense.'
State whether the following statement is true or false: 'Depreciation is charged on current assets.'
State whether the following statement is true or false: 'Depreciation is charged on intangible assets.'
