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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the definition of salvage value?
💡 Hint: Think about the end value of an asset.
Question 2
Easy
What formula is used for Double Declining Balance method?
💡 Hint: Consider the basic idea of doubling the rate.
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 main reason for switching depreciation methods?
- To increase taxes
- To align book value with salvage value
- To decrease asset value
💡 Hint: Think about the relationship between depreciation and asset value.
Question 2
True or False: The Straight Line method results in higher initial depreciation compared to DDB.
- True
- False
💡 Hint: Consider how each method allocates its depreciation.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Using the given costs, calculate the depreciation for the first three years using both DDB and Straight Line and determine when to switch methods.
💡 Hint: Summarize calculations systematically for clear visibility on depreciation values.
Question 2
Discuss the implications of not switching methods — how could it affect the financial legitimacy of a company?
💡 Hint: Think about stakeholders' perspectives on reliable financial statements.
Challenge and get performance evaluation