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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
Depreciation is charged on.
Question # 2
The objective of charging depreciation on fixed assets is.
Question # 3
The method is specially suited to natural surces is said to be
Question # 4
The process of writing of intengible assets patent right, good will etc is called.
Question # 5
The assets which have not got physical existence are called.
Question # 6
Depreciation arise because of
Question # 7
Which of the following term is used for the depreciation of wasting assets such as timber tree, mines, oil wells etc.
Question # 8
The term Depletion is used with reference to.
Question # 9
Which of the following method is suitable for charging depreciation an machinery and furniture.
Question # 10
To make provision for the replacement of the assets. the method is to be ysed is.
Question # 11
Interest is debited to assets account uder the.
Question # 12
Depreciation is
Question # 13
The amount charged as depreciation goes on declining in
Question # 14
Under the diminishing balance method the depreciationis calculated on .
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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M Malaika MA 03 - Aug - 2024 02 Min 02 Sec 14/15 -
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M Mom Love 06 - Oct - 2022 04 Min 08 Sec 10/15 -
A Abdulah Iftikhar 05 - Oct - 2021 05 Min 11 Sec 10/15
ICom Part II Principles of Accounting Chapter 0 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
|
| 2 | 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
|
| 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 diminhing balance method, depreciationis calculated on. |
A. The original cost
B. The scrape value
C. Book value
D. All of the above
|
| 5 | 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
|
| 6 | Depreciation fund method is also known as. |
A. Sinking fund method
B. Annuity method
C. Sum- of year's digit method
D. None of these
|
| 7 | 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
|
| 8 | The assets which have not got physical existence are called. |
A. Intangible assets
B. Intangible fixed assets
C. Current assets
D. Tangible fixed assets
|
| 9 | 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
|
| 10 | Under the diminishing balance method the depreciationis calculated on . |
A. Book value
B. Original value
C. Residual value
D. None of these
|
Test Questions
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