Depreciation

Which method of depreciation is applicable for car and computer

• Reducing balance

• Straight line

• Revaluation

• Reducing balance and Straight line

Land is depreciated by

• Straight line

• Reducing balance

• None

• Revaluation

Which method of depreciation has residual value after charging full depreciation

• Straight line

• Reducing balance

• Revaluation

• None

Which method charges more depreciation in the initial years

• Straight line

• Reducing balance

• None

• Revaluation

Revaluation method is calculated by ....................plus..................minus................

Accounting principles applicable in depreciation

• Matching

• Prudence

• Consistency

• All 3

Disposal of Asset is opened when

• Asset is sold

• Asset is purchased

• Asset is scraped

• All 3

In the Disposal Account how manty entries are there

• 1

• 2

• 3

• 4

Net Asset Value is equal to

• Cost

• Cost less depreciation for the year

• Cost less accumulated depreciation

• Cost less Value of asset sold

A fixed amount of depreciation is charged under

• Straight line

• Reducing balance

• Revaluation

• None