CBSE  /  Class 11  /  Accountancy  /  Depreciation, Provisions and Reserves

  • 1. 
    Which of the following methods of depreciation is not recognized by Income Tax Law?

  • Straight line Method
  • None of these
  • Both, Straight Line and Diminishing Balance Methods
  • Diminishing Balance Method

  • 2. 
    Asset Disposal A/c is prepared when :

  • Provision for Depreciation A/c is prepared
  • Asset A/c is prepared
  • Profit & Loss A/c is prepared
  • Depreciation A/c is prepared

  • 3. 
    Which of the following is the example of Capital Reserve?

  • Workmen’s Compensation Fund
  • None of these
  • Premium Received on issue of shares or debentures
  • General Reserve

  • 4. 
    Which of the following is the example of Revenue Reserve?

  • Profit on Redemption of Debentures
  • Profit on Revaluation of Fixed
  • Investment Fluctuation Fund
  • Profit on Re-issue of forfeited shares

  • 5. 
    Dividend Equalisation Reserve is :

  • Specific Reserve
  • None of these
  • Secret Reserve
  • General Reserve

  • 6. 
    General Reserves are shown in :

  • Revaluation Account
  • Profit and Loss Account
  • None of these
  • Balance Sheet

  • 7. 
    According to Companies Act, 1956 Secret Reserves can be created by:

  • Only Private Company
  • Banking and insurance companies
  • Only Public Company
  • Companies Registered under Companies Act

  • 8. 
    The loss on sale of an asset is debited to:

  • Profit and Loss Account
  • Trial Balance Cr. Side
  • Balance Sheet
  • Trading Account

  • 9. 
    Depreciation is Charged on :

  • Current Assets
  • Fixed Tangible Assets
  • None of these
  • Both Current and Fixed Assets

  • 10. 
    At the end of the year, Depreciation Account is transferred to :

  • Balance Sheet
  • Trading Account
  • Profit & Loss Appropriation Account
  • Profit & Loss Account
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