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Question-1
Obsolescence means fall in the value of assets due to
(A)
Fall in market price
(B)
Wear and tear
(C)
Innovation and invention
(D)
All of these
Question-2
Find the odd one and state the reasons
(A)
Copyright
(B)
Patent
(C)
Trademark
(D)
Machinery
Question-3
Find out the odd one and state reason
(A)
To ascertain the true result
(B)
To know the financial position
(C)
To present true balance sheet
(D)
To return funds for replacement
Question-4
Depreciation arises because of
(A)
Fall in the market value of an asset
(B)
Physical wear and tear
(C)
Fluctuation
(D)
Deflation
Question-5
.--------------- cannot be correctly calculated under depreciation on fixed assets is duly charged as a business expenses
(A)
Net profit
(B)
Gross profit
(C)
Financial leverage
(D)
None of these
Question-6
Find out the odd one and state reason
(A)
Estimated scrap value
(B)
Original cost
(C)
Sale price
(D)
Use full life of assets
Question-7
Under written down value method the rate of charging depreciation year after year---------
(A)
Increases
(B)
Decreases
(C)
Remains constant
(D)
None of these
Question-8
Depreciation decreases only the--------- value of the asset
(A)
Book value
(B)
Market value
(C)
Cost price
(D)
None of these
Question-9
--------------- value of an asset means the amount that it fleches on sale at the end of its useful working life
(A)
Scrap
(B)
Cost price
(C)
Original value
(D)
None of these
Question-10
The term depreciation is used in relation to
(A)
Fixed assets
(B)
Current assets
(C)
Wasting Assets
(D)
Intangible assets
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Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
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