
Depreciation and Amortization Quiz
Authored by Mohith undefined
Financial Education
University
Used 3+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following assets is typically NOT depreciated?
Buildings
Equipment
Land
Vehicles
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a common method for calculating depreciation?
Straight-line method
Declining-balance method
First-in, first-out method
Fixed installment method
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Fixed installment method is the other name of which type of depreciation method?
Straight-line method
Written down method
Accelerated
Units-of-production
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amortization is an accounting concept similar to depreciation, but it applies to which type of assets?
Intangible assets, such as patents and copyrights.
Natural resources, such as oil and timber.
Tangible assets, such as machinery and buildings.
Current assets, such as cash and accounts receivable.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Written Down Value method is most suitable for assets that:
Experience a higher utility in the earlier years of their life.
Provide uniform services throughout their useful life.
Have a very short useful life.
Do not have a significant residual value.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Depreciation is to tangible assets as depletion is to:
Intangible assets
Financial assets
Natural resources
Real estate
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is true regarding the salvage value (scrap value) of an asset?
It must be a positive value.
It is the book value of the asset at the end of its useful life.
It is the estimated market value of the asset at the time of purchase.
It must be higher than the initial cost of the asset.
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