
Depreciation
Authored by Swathi Nithin
Other
11th Grade
Used 86+ times

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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which cause of depreciation is stated in the above picture?
Wear and Tear
Obsolescence
Efflux of time
All of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Find the amount of depreciation chargeable under the straight line method for the second year if amount for first year is ₹4,000
₹4000
4400
8000
7600
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Fixed Installment system depreciation is charged on:
Market price of an asset
Opening balance of an asset
Closing balance of an asset
Cost price of an asset
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Residual value of the asset means:
The price paid on the purchase of asset
The amount realised on the sale of asset
The net amount expected to realise on final disposal of assets
Reduced value of the asset every year
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Sam purchased a Machine A by cheque for ₹1,50,000 plus CGST and SGST @ 6% each on 1st October 2016. Another Machine B was purchased for ₹90,000 plus IGST @ 12% by cheque on 1st April 2018. Depreciation is charged @ 10% p.a. by the straight line method. Accounts are closed every year on 31st March.
Total amount paid for purchase of two machines will be
₹2,68,800
₹2,59,800
₹1,68,000
₹1,00,800
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Sagar purchased a machine on 1st January 2018 for ₹ 7,50,000 plus IGST @ 12% each. He paid ₹30,000 for loading/unloading and carriage expenses to bring the machine to factory. He further incurred ₹37,500 for installing the machine.
The amount debited to Machinery Account will be
₹ 7,80,000
₹ 8,17,000
₹ 8,70,000
₹ 9,07,500
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the amount of depreciation of plant for fifth year as per straight line method when original cost of plant ₹ 10,00,000; Salvage value ₹ 40,000 , Expected useful life 10 years?
62,000
84,000
76,000
96,000
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