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MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test"
Try The MCQ's Test For Chapter 0 "Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test"
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Total Questions15
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Time Allowed20
Principles of Accounting Icom Part 2 English Medium Chapter 9 Online Test
00:00
Question # 1
Which of the following term is used for the depreciation of wasting assets such as timber tree, mines, oil wells etc.
Question # 2
Under aunuity method, the annual charger for depreciation wil be debited to.
Question # 3
The depreciation charged to motor car account will be debited to.
Question # 4
Another name of diminishing balance method of depreciation is the
Question # 5
Under which method the book value of the fixed assets acn be reduce to zero after certain year
Question # 6
The gradual decrease in the value of the fixex assets due to its use in the business is called.
Question # 7
The term Depletion is used with reference to.
Question # 8
Depreciation caused by some external amoutn of anual depreciation gradully.
Question # 9
Under the straight line method of charging depreciation, the amount of deperciation .
Question # 10
Which of the following method is suitable for charging depreciation an machinery and furniture.
Question # 11
The asses which have physical existence are called.
Question # 12
Depreciation fund method is also known as.
Question # 13
The amount charged to depreciation goes on declining in.
Question # 14
The method is specially suited to natural surces is said to be
Question # 15
Under diminhing balance method, depreciationis calculated on.
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 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
|
| 2 | The gradual decrease in the value of the fixex assets due to its use in the business is called. |
A. Depreciation
B. Depletion
C. Amorization
D. Fluctuation
|
| 3 | the term depreciationis used with reference to. |
A. Tangible assets
B. Intangible asets
C. Current assets
D. Fixed assets
|
| 4 | The asses which have physical existence are called. |
A. Intangible assets
B. Intangible fixed assets
C. Tangible fixed assets
D. Both tangible or intangible assets
|
| 5 | To make provision for the replacement of the assets. the method is to be ysed is. |
A. Written down value method
B. Annuity method
C. Sinking fund method
D. Insurance policy 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 | 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
|
| 8 | 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
|
| 9 | Depreciation is |
A. An Income
B. An expense
C. A loss
D. A liability
|
| 10 | The term Depletion is used with reference to. |
A. Tangible assets
B. Intangible assets
C. Current assets
D. Fixex assets
|
Test Questions
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