Depreciation, Provisions and Reserves Quizz Advertisement MCQ’s For All Chapters – Accounts Class 11th 1. Every fixed asset loses its value due to use or other reasons. This decline in the value of asset is known as A. Amortization B. Provisions C. Depreciation D. DevaluationABCDYour comments:Question 1 of 102. Following are the causes of Depreciation except A. Wear and tear due to use or passage of time. B. normal factors C. Expiration of legal rights. D. Obsolescence.ABCDYour comments:Question 2 of 103. The term depletion is used for : A. Natural resources B. Fixed asset C. Liabilities D. Intangible assetsABCDYour comments:Question 3 of 104. An alternative term used for accumulated depreciation expenses? A. Provision for depreciation B. Cumulative depreciation C. Targeted depreciation D. DepletionABCDYour comments:Question 4 of 105. Depreciation charged under diminishing method A. Increase every year B. Decrease every year C. Increase in one year and decrease another year D. Same every yearABCDYour comments:Question 5 of 106. Which of the following is not a type of reserve A. Provision for bad debtB. General reserveC. Workmen compensation fundD. Retained earningsABCDYour comments:Question 6 of 107. What is depreciation? A. Cost of using a fixed assetB. The value of assetC. Portion of a fixed assets cost consumed during the current accountingD. Cost of fixed asset’s repairABCDYour comments:Question 7 of 108. An alternative term used for accumulated depreciation expenses? A. Provision for depreciationB. DepletionC. Targeted depreciationD. Cumulative depreciationABCDYour comments:Question 8 of 109. What is the rate of charging depreciation under diminishing method? A. 12% p.a.B. 15% p.a.C. 10% p.a.D. Not fixedABCDYour comments:Question 9 of 1010. Under which depreciation method the amount of depreciation expenses remains same throughout the useful life of a fixed asset A. Straight line methodB. Reducing balance methodC. Number of units produced methodD. Machine hours methodABCDYour comments:Question 10 of 10 Loading...
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