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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the formula for calculating depreciation using the Sum of the Years Digit method?
💡 Hint: Recall how 'n' relates to the years left.
Question 2
Easy
If an asset costs ₹100,000 and has a salvage value of ₹10,000 over 10 years, what is the sum of the years?
💡 Hint: Add the integers from 1 to 10.
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 does the Sum of the Years Digit method primarily assess?
- Salvage Value
- Accelerated Depreciation
- Accumulated Depreciation
💡 Hint: Think about how value dissipates over time.
Question 2
True or False: The Sum of the Years Digit method calculates the same depreciation each year.
- True
- False
💡 Hint: Consider how remaining years affect depreciation values.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
An asset valued at ₹10,000,000 has a salvage value of ₹1,000,000 and tire costs of ₹500,000. Calculate the depreciation for the 3rd year if the asset's useful life is 10 years.
💡 Hint: Always recalculate 'n' before making each calculation.
Question 2
Discuss the impact of accelerated depreciation on financial reporting and tax implications. Provide a comprehensive response.
💡 Hint: Consider both short-term and long-term impacts for a balanced view.
Challenge and get performance evaluation