12th class Principle of Accounting chapter 9 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 9 (Partnership Accounts Dissolution of the Firm)

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Sr.#	Question	Answer
1	Under aunuity method, the annual charger for depreciation wil be debited to.	A. Assets account B. Depreciation account C. Interest account D. None of these
2	The amount of assets may rise of fell on account of.	A. Depreciation B. Fluctuation C. Depletion D. Amortization
3	Depreciation is	A. An Income B. An expense C. A loss D. A liability
4	The process of writing of intengible assets patent right, good will etc is called.	A. Depreciation B. Fluctuaton C. Amorization D. depletion
5	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
6	Under diminhing balance method, depreciationis calculated on.	A. The original cost B. The scrape value C. Book value D. All of the above
7	Depreciation caused by some external amoutn of anual depreciation gradully.	A. Increase B. Decrease C. Remain constant D. None of these
8	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
9	Which of the following term is used for the depreciation of wasting assets such as timber tree, mines, oil wells etc.	A. Depreciation B. Depletion C. Amortization D. None of these
10	The depreciation charged to motor car account will be debited to.	A. Depreciation account B. Motor car account C. Cash account D. None of these