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11th Standard English Medium Accountancy Subject Depreciation Accounting Creative 1 Mark Questions with Solution Part - II

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5
    5 x 1 = 5
  1. ____________ method is appropriate for the fixed assets having certain period of working life.

    (a)

    Diminishing balance

    (b)

    Sinking fund

    (c)

    Straight line

    (d)

    Depreciation fund

  2. ____________ is also knonw as written downvalue method or reducing instalments method.

    (a)

    Straight line method

    (b)

    Diminishing balance

    (c)

    Annuity method

    (d)

    Revaluation method

  3. ___________ method is recognised and accepted by income tax authorities.

    (a)

    Straigh line

    (b)

    Annuity method

    (c)

    Diminishing balance

    (d)

    Depreciation fund

  4. If original cost of the asset is Rs.1,00,000 and the rate of depreciation is 10% per annum. The depreciation in the first year will be Rs.___________

    (a)

    Rs. 10,000

    (b)

    Rs. 1,000

    (c)

    90,000

    (d)

    1,00,000

  5. _________________ method, the amount spent on the purchase of an asset is regarded as an investment.

    (a)

    Depreciation fund

    (b)

    Annuity

    (c)

    Insurance policy

    (d)

    Revaluation

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