CBSE Class 11 Accountancy Depreciation, Provisions and Reserves Quiz 3

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CBSE › Class 11 › Accountancy › Depreciation, Provisions and Reserves

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1. Which of the following is not a type of reserve

A Provision for bad debt B General reserve C Workmen compensation fund D Retained earnings

2. What is depreciation?

A Cost of using a fixed asset B The value of asset C Portion of a fixed assets cost consumed during the current accounting D Cost of fixed asset’s repair

3. Depreciation helps in determining

A Accurate level of profit B Increases the value of asset C Revenue generation D Increase the burden of tax

4. What is the rate of charging depreciation under diminishing method?

A 12% p. a. B 15% p. a. C 10% p. a. D Not fixed

5. Under which depreciation method the amount of depreciation expenses remains same throughout the useful life of a fixed asset

A Straight line method B Reducing balance method C Number of units produced method D Machine hours method

Practice more on Depreciation, Provisions and Reserves

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