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

  • 1. 
    Which of the following is not a type of reserve

  • Provision for bad debt
  • General reserve
  • Workmen compensation fund
  • Retained earnings

  • 2. 
    What is depreciation?

  • Cost of using a fixed asset
  • The value of asset
  • Portion of a fixed assets cost consumed during the current accounting
  • Cost of fixed asset’s repair

  • 3. 
    Depreciation helps in determining

  • Accurate level of profit
  • Increases the value of asset
  • Revenue generation
  • Increase the burden of tax

  • 4. 
    What is the rate of charging depreciation under diminishing method?

  • 12% p. a.
  • 15% p. a.
  • 10% p. a.
  • Not fixed

  • 5. 
    Under which depreciation method the amount of depreciation expenses remains same throughout the useful life of a fixed asset

  • Straight line method
  • Reducing balance method
  • Number of units produced method
  • Machine hours method
Report Question
warning
Practice More On Depreciation, Provisions and Reserves
Quiz 1 Quiz 2 Quiz 3
access_time
  Time