Quiz on Depreciation

#1. Decrease in the value of fixed asset is known as ………….

#2. The amount that a fixed asset is expected to realise on its disposal is known as ……………

#3. At the end of financial year, balance of depreciation A/c is transferred to …………………

#4. Under ……………. method depreciation is calculated on written down value

#5. By the amount of depreciation the value of asset …………….

#6. The amount of depreciation reduces year after year under …………..

#7. The amount of depreciation remains constant every year under ………………..

#8. The amount spent on installation of new machinery is a ………………… expenditure.

#9. Depreciation is charged only on……….. assets.

#10. Wages paid for installation of machinery debited to …………. account

#11. The amount of depreciation charged machinery is debited to ………… account.

#12. The balance of depreciation account is transterred to ……………

#13. Under Fixed Instalment Method, depreciation is charged on ……………

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