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Question-1
Under which method, investments are made at the end of the accounting period?
(A)
Revaluation Method
(B)
Sinking Fund Method
(C)
Annuity Method
(D)
Depreciation Fund Method
Question-2
Under which method, depreciation is calculated on the original cost of the asset?
(A)
Fixed installment method
(B)
Diminishing balance method
(C)
Annuity method
(D)
Revaluation method
Question-3
Which term is generally used for the depreciation of natural resources?
(A)
Amortization
(B)
Depletion
(C)
Appreciation
(D)
Disposal value
Question-4
The amount of depreciation is the same every year is the main feature of:
(A)
Diminishing Balance Method
(B)
Annuity Method
(C)
Straight Line Method
(D)
Depreciation Fund Method
Question-5
Which of the following is a double entry for depreciation expenses?
(A)
Accumulated depreciation debit and depreciation expenses credit
(B)
Depreciation expenses debit and accumulated depreciation credit
(C)
Cash debit and depreciation expenses credit
(D)
Depreciation expenses debit and cash credit
Question-6
Total depreciation cannot exceed its:
(A)
Scrap value
(B)
Cost Value
(C)
Market value
(D)
Depreciable value
Question-7
Fluctuation refers to change in the value of:
(A)
Tangible assets
(B)
Intangible assets
(C)
Current assets
(D)
Fixed assets
Question-8
Under which method, the value of asset cannot be written down to zero?
(A)
Fixed Installment method
(B)
Annuity method
(C)
Diminishing balance method
(D)
Revaluation method
Question-9
An informal accounting statement that lists the ledger account balances at a point in time and compares the total of debit balances with the total of credit balances is known as:
(A)
Income Statement
(B)
Balance Sheet
(C)
Trial Balance
(D)
Cash Book
Question-10
Under which method, the calculation of depreciation is easy as compared to many other methods of depreciation?
(A)
Fixed installment method
(B)
Diminishing balance method
(C)
Depreciation fund method
(D)
Annuity method
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Cambridge Advanced Grade 12
IGCSE
Practice in Related Chapters
Depreciation and Disposal of Fixed Asset
Bad Debts and Provision for Doubtful Debts
Control Accounts
Petty Cash Books
Incomplete Records
Accounts of Clubs and Societies
Partnership Accounts -PART A
Books of Prime Entry
Accounts of Manufacturing Business
Introduction to Accounting
Double Entry Book Keeping
The Trail Balance
Final Accounts
Accruals and prepayments
Accounting Rules
Bank Reconciliation Statement
Business Documents
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