12th Class ICom Part 2 Principles of Accounting Chapter Wise Online MCQ Test with answers PDF English Medium

Principles of Accounting Icom Part 2 English Medium Online Test

Sr. #	Questions	Answers Choice
1	Interest is debited to assets account uder the.	Annuity method Depreciation fund method Insurance policy method Depletion method
2	The value of an asset at the end of the working life is called.	Book value Scrape value Market value None of these
3	the term depreciationis used with reference to.	Tangible assets Intangible asets Current assets Fixed assets
4	The term Depletion is used with reference to.	Tangible assets Intangible assets Current assets Fixex assets
5	Depreciation is charged on.	Fixed tangible assets only Fixex intangible assets only Current assets only None of these
6	Depreciation caused by some external amoutn of anual depreciation gradully.	Increase Decrease Remain constant None of these
7	The gradual decrease in the value of the fixex assets due to its use in the business is called.	Depreciation Depletion Amorization Fluctuation
8	The amount charged as depreciation goes on declining in	Depletion fund method Auunity method Diminishing balance method Straiight line method
9	Under the diminishing balance method the depreciationis calculated on .	Book value Original value Residual value None of these
10	Depreciation arise because of	Due to fall in the market value of fixex assets Due to physical wear and tear of the assets Due to fall in the market value None of these
11	Depreciation under diminishing balance method ont he cost price of the fixex asset of Rs. 50.000 after two year @10% will be	RS. 5,000 Rs. 4050 Rs.4500 Rs. 40,000
12	To make provision for the replacement of the assets. the method is to be ysed is.	Written down value method Annuity method Sinking fund method Insurance policy method
13	Under annuity method the amount of depreciation is.	Increasing every year Decreasing every year Fixed for all the year None of these
14	The method is specially suited to natural surces is said to be	Annuity method Depletion method Revalution method Sum of digit method
15	Depreciation fund method is also known as.	Sinking fund method Annuity method Sum- of year's digit method None of these

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