CBSE Class 11 Depreciation, Provisions and Reserves Multiple Choice Questions with Answers. MCQ Questions Class 11 Depreciation, Provisions and Reserves with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 11 Depreciation, Provisions and Reserves with Answers to know their preparation level.
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MCQ Questions Class 11 Depreciation, Provisions and Reserves with Answers - Set - 4
Question 1:Â
What will be the percentage of depreciation under SLM in the following case:Â
Original Cost of Machine Rs. 1,50,000
Salvage value after 9 years Rs. 15,000
Repair charges in 2nd year Rs. 10,000
(a) 11.11%
(b) 10%
(c) 10.34%
(d) 9.37%
Correct Answer – (B)
Question 2:Â
Provision is created by debiting :
(a) Profit and Loss Account
(b) None of these
(c) Profit and Loss Appropriation Account
(d) Trading Account
Correct Answer – (A)
Question 3:Â
The loss on sale of an asset is debited to:
(a) Profit and Loss Account
(b) Trial Balance Cr. Side
(c) Balance Sheet
(d) Trading Account
Correct Answer – (A)
Question 4:Â
Which of the following is the example of Capital Reserve?
(a) Workmen’s Compensation Fund
(b) None of these
(c) Premium Received on issue of shares or debentures
(d) General Reserve
Correct Answer – (C)
Question 5:Â
What will be the amount of loss suffered on machinery purchased for Rs. 10,000 on 1-1-2010 and sold for Rs. 5000 on 30-6-12. The rate of depreciation charged 10% p.a. on written down method.
(a) 1926
(b) 1927
(c) 1925
(d) 1928
Correct Answer – (C)
MCQ Questions Class 11 Depreciation, Provisions and Reserves With Answers
Question 6:Â
Every fixed asset loses its value due to use or other reasons. This decline in the value of asset is known as
(a) Amortization
(b) Provisions
(c) Depreciation
(d) Devaluation
Correct Answer – (C)
Question 7:Â
Charging depreciation isÂ
(a) compulsory.
(b) voluntary,
(c) dependent on the condition of assets.
(d) None of these.
Correct Answer – (A)
Question 8:Â
General Reserves are shown in :
(a) Revaluation Account
(b) Profit and Loss Account
(c) None of these
(d) Balance Sheet
Correct Answer – (D)
Question 9:Â
If the amount of any known liability can be determined with accuracy Â
(a) a liability should be provided.
(b) a provision should be made,
(c) a reserve should be set aside.
(d) None of these.
Correct Answer – (A)
Question 10:Â
Provisions areÂ
(a) external transactions.
(b) internal transactions,
(c) Can be (a) or (b).
(d) None of these.
