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MCQ Chapter 7 Accountancy Class 11 Maharashtra Board

Depreciation

1. Market value affects depreciation when

Question 1 of 20

2. Under Fixed Instalment Method, book value of asset is reduced by

Question 2 of 20

3. On sale of asset, loss is recorded in

Question 3 of 20

4. In WDV method, depreciation is

Question 4 of 20

5. At the end of life, asset’s book value is equal to

Question 5 of 20

6. Purchase of an asset on credit is recorded by

Question 6 of 20

7. Depreciation is charged on assets to reflect

Question 7 of 20

8. On sale of asset at book value, the journal entry includes credit to

Question 8 of 20

9. Profit on sale of asset is transferred to

Question 9 of 20

10. When loss is made on sale of asset, which account is debited?

Question 10 of 20

11. Repairs incurred before using second-hand asset are added to

Question 11 of 20

12. Which of the following is a wasting asset?

Question 12 of 20

13. When asset is sold at profit, which entry is passed?

Question 13 of 20

14. Under which method is depreciation highest in early years?

Question 14 of 20

15. In SLM, profit is

Question 15 of 20

16. Which depreciation method is accepted by law for tax purposes?

Question 16 of 20

17. On revaluation, asset value is adjusted by

Question 17 of 20

18. Which is not a journal entry for asset accounting?

Question 18 of 20

19. Loss due to fire is accounted under

Question 19 of 20

20. Book value after depreciation is known as

Question 20 of 20


 

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