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11th Standard Accounts Depreciation Accounting English Medium Free Online Test One Mark Questions with Answer Key 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. If the total charge of depreciation and maintenance cost are considered, the method that provides a uniform charge is

    (a)

    Straight line method

    (b)

    Diminishing balance method

    (c)

    Annuity method

    (d)

    Insurance policy method

  2. Depreciation is provided on

    (a)

    Fixed assets

    (b)

    Current assets

    (c)

    Outstanding charges

    (d)

    All assets

  3. Depreciation is the process of

    (a)

    Allocation of cost of the asset to the period of its useful life

    (b)

    Valuation of assets

    (c)

    Maintenance of an asset in a state of efficiency

    (d)

    Adding value to the asset

  4. ____________ is a statement of financial position of a business.

    (a)

    Trading account

    (b)

    Profit and loss account

    (c)

    Balance sheet

    (d)

    Trial balance

  5. ___________ is a non-cash item.

    (a)

    Depreciation

    (b)

    Asset

    (c)

    Liabilities

    (d)

    None of these

  6. The time period for which an asset can be used efficiently is known as ____________ of an asset.

    (a)

    Scrap Value

    (b)

    Estimated useful life

    (c)

    Original Cost

    (d)

    None of these

  7. ____________ method is appropriate for the fixed assets having certain period of working life.

    (a)

    Diminishing balance

    (b)

    Sinking fund

    (c)

    Straight line

    (d)

    Depreciation fund

  8. ___________ method is recognised and accepted by income tax authorities.

    (a)

    Straigh line

    (b)

    Annuity method

    (c)

    Diminishing balance

    (d)

    Depreciation fund

  9. Total amount of depreciation provided on the written down value method at the rate of 10% p.a. on Rs.10,000 for first three years will be ______________

    (a)

    Rs.2,107

    (b)

    Rs.2,710

    (c)

    Rs.2,701

    (d)

    Rs.2,017

  10. The term depletion is used in relation to _____________

    (a)

    Fixed assets

    (b)

    Current assets

    (c)

    Wasting assets

    (d)

    Intangible assets

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