NCERT Class 11 Chapter 7 Accountancy Depreciation Reserves and Provisions MCQ | Questions & Answers

NCERT Class 11 Chapter 7 Accountancy Depreciation Reserves and Provisions MCQ | Questions & Answers: This page will help you take up the NCERT Class 11 Chapter 7 Accountancy Depreciation Reserves and Provisions MCQ Quiz! Give a try for it and know your expertise in the particular area of interest.

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1. What Journal Entry will be passed: Value of asset being sold transferred to Asset Disposal Account?

2. Which method of depreciation suffers from the limitation of unequal burden on profit and loss account?

3. Which method of charging depreciation is accepted by Income Tax Act?

4. Depreciation is a process of:

5. Depreciation is which of the following expenditure:

6. Which of the following statements is NOT true about Provisions?

7. Which of the following statements is NOT true about Reserves?

8. If the amount of any known liability cannot be determined with substantial accuracy:

9. Under which method the amount of depreciation remains same year after year?

10. As per the Original Cost method which is the correct formula for calculating Annual depreciation?