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11th Standard English Medium Accountancy Subject Depreciation Accounting Book Back 1 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5

    Part I

    5 x 1 = 5
  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 provided on machinery is debited to ____________

    (a)

    Depreciation account

    (b)

    Machinery account

    (c)

    Trading account

    (d)

    Provision for depreciation account

  3. Depreciation is provided on ____________

    (a)

    Fixed assets

    (b)

    Current assets

    (c)

    Outstanding charges

    (d)

    All assets

  4. 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

  5. A depreciable asset may suffer obsolescence due to______.

    (a)

    Passage of time

    (b)

    Wear and tear

    (c)

    Technological changes

    (d)

    None of the above

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