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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is depreciation?
💡 Hint: Think about how cars lose value over time.
Question 2
Easy
What does salvage value mean?
💡 Hint: Consider what you could sell an asset for after using it.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the primary purpose of calculating depreciation?
- To reduce asset value
- To calculate taxable income
- Both A and B
💡 Hint: Consider all financial aspects of asset utilization.
Question 2
The double declining balance method disregards which of the following?
- True
- False
💡 Hint: Think about what is factored into depreciation calculations.
Solve 3 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
You have an asset purchased at ₹200,000, a useful life of 10 years, and a salvage value of ₹20,000. Calculate the total depreciation for the first four years using both methods, then determine if a switch is necessary.
💡 Hint: Carefully analyze patterns over the first four years.
Question 2
An asset has a cost of ₹150,000, a salvage value of ₹5,000, and an estimated 5-year lifespan. Calculate the first year depreciation using both methods and assess fiscal implications of each.
💡 Hint: Focus on initial tax implications and asset management.
Challenge and get performance evaluation