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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define depreciation.
💡 Hint: Think about the reasons an asset might lose value.
Question 2
Easy
Explain the Straight-Line Method of depreciation.
💡 Hint: How does this method calculate annual expense?
Practice 1 more question and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is depreciation?
- Increase in asset value
- Decrease in asset value over time
- Unchanged asset value
💡 Hint: Consider what typically happens to an asset's worth as it ages.
Question 2
True or False: Depreciation is a method to increase taxable income.
- True
- False
💡 Hint: Think about how businesses report their expenses.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company purchased machinery for ₹200,000 with a salvage value of ₹20,000. If they decide to use the Written Down Value Method at 25%, calculate the depreciation for the first three years.
💡 Hint: Keep calculating based on the remaining book value each year.
Question 2
An asset originally costing ₹150,000 has a 10-year useful life and a salvage value of ₹10,000. If it is depreciated using the Sum of the Years' Digits method, calculate the depreciation for the first year.
💡 Hint: First, calculate the total years increased and remember to apply the fraction to the depreciable amount.
Challenge and get performance evaluation