Test: Depreciation Provisions And Reserves - 2


20 Questions MCQ Test Crash Course of Accountancy - Class 11 | Test: Depreciation Provisions And Reserves - 2


Description
This mock test of Test: Depreciation Provisions And Reserves - 2 for Commerce helps you for every Commerce entrance exam. This contains 20 Multiple Choice Questions for Commerce Test: Depreciation Provisions And Reserves - 2 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Depreciation Provisions And Reserves - 2 quiz give you a good mix of easy questions and tough questions. Commerce students definitely take this Test: Depreciation Provisions And Reserves - 2 exercise for a better result in the exam. You can find other Test: Depreciation Provisions And Reserves - 2 extra questions, long questions & short questions for Commerce on EduRev as well by searching above.
QUESTION: 1

Cost of a fixed asset – Accumulated depreciation expenses of the fixed asset=?

Solution:
QUESTION: 2

An increase in the value of fixed asset is referred to as:

Solution:

An increase in the value of fixed asset is referred to as Appreciation. Appreciation, in general terms, is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates.

QUESTION: 3

The term _____ is generally used for the depreciation of natural resources

Solution:
QUESTION: 4

When an asset is disposed off the procedure will be recorded in a separate account called :

Solution:
QUESTION: 5

Which of the following is the limitation of the Written down value

Solution:
QUESTION: 6

Following are the provisions except Examples of provisions are :

Solution:
QUESTION: 7

Obsolescence means decrease in assets

Solution:
QUESTION: 8

Depreciation is a process of

Solution:
QUESTION: 9

If the amount of any known liability can not be determined with accuracy

Solution:
QUESTION: 10

Which of the following is true relating to Secret reserve

Solution:
QUESTION: 11

Dividend equalization reserve is termed as reserves

Solution:
QUESTION: 12

How secret reserve can be created

Solution:
QUESTION: 13

Which reserve is crated out of capital gain

Solution:
QUESTION: 14

Good debt

Solution:
QUESTION: 15

Which one is false relating to Depreciation

Solution:
QUESTION: 16

Depreciation arise due to

Solution:
QUESTION: 17

Under which depreciation method the amount of depreciation expenses remain same throughout the useful life of a fixed asset

Solution:
QUESTION: 18

Which of the following is the normal balance of an accumulated depreciation account

Solution:
QUESTION: 19

Deprecation amount + Residential value of a fixed asset =

Solution:
QUESTION: 20

XYZ firm has imported a machine from abroad, which of the following is not the element of machine’s cost

Solution: