jaiibmocktest.in

Question 1 reset

Depreciation is recorded in __________ side of profit and loss account.

Asset

Liability

Question 2 reset

Depreciation is a fall in the value of an asset.

False

True

Question 3 reset

Depreciation is provided to arrive at the profit earned by the business.

True

False

Question 4 reset

Fall in market price is the main cause of depreciation.

True

False

Question 5 reset

The value of asset will be reduced to zero under the written down value method of depreciation.

True

False

Question 6 reset

The asset being completely written off under the written down value method.

True

False

Question 7 reset

The expenditure on repairs and renewal and depreciation on assets are equal in every ye ar under the straight line method of depreciation.

True

False

Question 8 reset

The Income and Expenditure account is prepared on the basis of

mercantile system of accounting

hybrid system of accounting

Question 9 reset

Amount received towards Endowment Fund is

capital receipt

revenue receipt

Question 10 reset

Calculate Operating margin if

10%

20%

30%

Time Over