12th Class Principle of Accounting Online MCQ's Test with Answers for Chapter 9 (Partnership Accounts Dissolution of the Firm)

ICOM Part 2 English Medium Principles of Accounting Chapter 9 MCQ's Test

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ICOM Part 2 Principles of Accounting Chapter Wise Online MCQ's Test

MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test"

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Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test

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Question # 1

Interest is debited to assets account uder the.

Question # 2

Depreciation fund method is also known as.

Question # 3

Depreciation is charged on.

Question # 4

The method is specially suited to natural surces is said to be

Question # 5

Under annuity method the amount of depreciation is.

Question # 6

Another name of diminishing balance method of depreciation is the

Question # 7

the term depreciationis used with reference to.

Question # 8

The objective of charging depreciation on fixed assets is.

Question # 9

Depreciation is

Question # 10

Which of the following method is suitable for charging depreciation an machinery and furniture.

Question # 11

Depreciation is charged at fixex rate on the reducing balance, under the.

Question # 12

To make provision for the replacement of the assets. the method is to be ysed is.

Question # 13

The assets which have not got physical existence are called.

Question # 14

Depreciation under diminishing balance method ont he cost price of the fixex asset of Rs. 50.000 after two year @10% will be

Question # 15

The term Depletion is used with reference to.

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ICOM Part 2 English Medium Principles of Accounting Chapter 9 MCQ's Test

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ICom Part II Principles of Accounting Chapter 0 Important MCQ's

Sr.# Question Answer
1 The value of an asset at the end of the working life is called.
A. Book value
B. Scrape value
C. Market value
D. None of these
2 Depreciation arise because of
A. Due to fall in the market value of fixex assets
B. Due to physical wear and tear of the assets
C. Due to fall in the market value
D. None of these
3 The objective of charging depreciation on fixed assets is.
A. Calculate the true net profit
B. To provide funds for the replacement
C. To redue the tax libility
D. All of the above
4 Under annuity method the amount of depreciation is.
A. Increasing every year
B. Decreasing every year
C. Fixed for all the year
D. None of these
5 Interest is debited to assets account uder the.
A. Annuity method
B. Depreciation fund method
C. Insurance policy method
D. Depletion method
6 Depreciation under diminishing balance method ont he cost price of the fixex asset of Rs. 50.000 after two year @10% will be
A. RS. 5,000
B. Rs. 4050
C. Rs.4500
D. Rs. 40,000
7 The term Depletion is used with reference to.
A. Tangible assets
B. Intangible assets
C. Current assets
D. Fixex assets
8 the term depreciationis used with reference to.
A. Tangible assets
B. Intangible asets
C. Current assets
D. Fixed assets
9 Under the straight line method of charging depreciation, the amount of deperciation .
A. Decrease every year
B. Increase every year
C.
Remain constant every year
D. None of the above
10 The process of writing of intengible assets patent right, good will etc is called.
A. Depreciation
B. Fluctuaton
C. Amorization
D. depletion

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