1.
Ambuja Cement Ltd. purchased a machine on 1-1-2019 for ₹ 1,20,000. Installation expenses were ₹ 10,000. Its residual value after 10 year is ₹ 5,000. On 1-03-2019 expenses on its repairs were incurred to the extent of ₹ 2,000. Depreciation is provided under straight line method. Books are closed on 31st March every year. The amount of depreciation for the current year will be:
1 out of 10
2.
Depreciation is charged on:
2 out of 10
3.
Charging depreciation is:
3 out of 10
4.
A Ltd. purchased a machine on 1.1.2019 for ₹ 1,20,000. Installation expenses were ₹ 30,000. Residual value after 5 years ₹ 5,000. On 1.7.2019, expenses for repair were incurred to the extent of ₹ 2,000. Depreciation is provided @10% p.a. under written down value method. Total depreciation after 2nd year.
4 out of 10
5.
The loss on sale of an asset is debited to:
5 out of 10
6.
A machine is purchased on 1st April, 2018 for ₹ 80,000. Expenses incurred on its installation is ₹ 20,000. The residual value at the end of its expected useful life of 4 years is estimated at ₹ 10,000. The amount of depreciation under Straight Line Method, for the year ended on 31st March, 2019 will be:
6 out of 10
7.
The balance of machine on 31st March 2019 is ₹ 97,200. The machine was purchased on 1st April 2017. Depreciation is charged @ 10% p.a. by diminishing balance method. The cost price of the machine as on 1st April 2017 would be:
7 out of 10
8.
Amortisation refers to writing off ……….
8 out of 10
9.
An asset was purchased for ₹ 5,00,000 and as per reducing balance method, 20% deprecation is charged each year. What is the value of assets at the end of three years?
9 out of 10
10.
Depreciation is a process of:
10 out of 10
