Practice Factors Affecting Depreciation - 4.3 | 4. Depreciation | ICSE Class 11 Accountancy
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4.3 - Factors Affecting Depreciation

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What do we call the original price paid for an asset?

💡 Hint: It's the initial amount spent to acquire the asset.

Question 2

Easy

What is salvage value?

💡 Hint: Think about the return you might get when you sell an asset 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

Which of the following affects the annual depreciation expense of an asset?

  • Cost of the asset
  • Manufacturer's warranty
  • Market demand

💡 Hint: Think about which factor contributes to how we assess an asset's value.

Question 2

True or False: The estimated useful life of an asset is irrelevant to its depreciation calculation.

💡 Hint: Reflect on how long an asset is used and how it impacts accounting.

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Challenge Problems

Push your limits with challenges.

Question 1

A small business purchases a delivery truck for ₹500,000, forecasting its useful life to be 10 years and expecting a salvage value of ₹50,000. Calculate the annual depreciation using the straight-line method.

💡 Hint: Don’t forget to subtract the salvage value before dividing by the useful life!

Question 2

If a company decides to switch from the written down value method to the sum of the years' digits method for an asset purchased for ₹200,000, with a useful life of 5 years, calculate the first-year depreciation under the new method.

💡 Hint: First, find the sum of the digits for the years, then apply the formula.

Challenge and get performance evaluation