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11th Standard Accounts Depreciation Accounting English Medium Free Online Test One Mark Questions 2020 - 2021

11th Standard

    Reg.No. :
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Accountancy

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Under straight line method, the amount of depreciation is

    (a)

    Increasing every year

    (b)

    Decreasing every year

    (c)

    Constant for all the years

    (d)

    Fluctuating every year

  2. Cash received from sale of fixed asset is credited to

    (a)

    Profit and loss account

    (b)

    Fixed asset account

    (c)

    Depreciation account

    (d)

    Bank account

  3. Depreciation is caused by

    (a)

    Lapse of time

    (b)

    Usage

    (c)

    Obsolescence

    (d)

    a, b and c

  4. For which of the following assets, the depletion method is adopted for writing off cost of the asset?

    (a)

    Plant and machinery

    (b)

    Mines and quarries

    (c)

    Buildings

    (d)

    Trademark

  5. The written down value is the true value of ________ assets

    (a)

    fixed

    (b)

    current

    (c)

    tangible

    (d)

    intangible

  6. __________ means the amount incurred in acquiring the asset.

    (a)

    Original cost of the asset

    (b)

    Scrap value of an asset

    (c)

    Estimated useful life of the asset

    (d)

    None of these

  7. ____________ is also knonw as written downvalue method or reducing instalments method.

    (a)

    Straight line method

    (b)

    Diminishing balance

    (c)

    Annuity method

    (d)

    Revaluation method

  8. If original cost of the asset is Rs.1,00,000 and the rate of depreciation is 10% per annum. The depreciation in the first year will be Rs.___________

    (a)

    Rs. 10,000

    (b)

    Rs. 1,000

    (c)

    90,000

    (d)

    1,00,000

  9. _________________ means exhaustion of natural resources.

    (a)

    Depletion

    (b)

    Depreciation

    (c)

    Revaluation

    (d)

    None of these

  10. Selling price of a machinery is Rs.80,000. Loss on sale was Rs.20,000. The book value of the machinery is_____________

    (a)

    Rs. 1,00,000

    (b)

    Rs. 60,000

    (c)

    Rs. 20,000

    (d)

    Rs. 50,000

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