Practice Depreciation on Fixed Assets - 10.6.2 | 10. Non-Trading Organisations | ICSE Class 11 Accountancy
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10.6.2 - Depreciation on Fixed Assets

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is depreciation?

💡 Hint: Think about how assets lose value as they are used.

Question 2

Easy

Where is depreciation recorded in a non-trading organisation?

💡 Hint: Recall the financial statements we discussed.

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 depreciation refer to?

  • Increase in value of an asset
  • Maintenance cost
  • Decrease in value of an asset

💡 Hint: Think about assets being used over time.

Question 2

True or False: Depreciation is recorded in the Income and Expenditure Account.

  • True
  • False

💡 Hint: Recall where we talked about various expenses in financial accounts.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A non-trading organization owns a solar panel system valued at ₹500,000 with an expected lifespan of 20 years. Calculate the annual depreciation using the straight-line method and discuss how this impacts the income statement.

💡 Hint: Remember the straight-line method formula you've learned.

Question 2

If an equipment's depreciation is not recorded over five years, estimate the financial misrepresentation in terms of net income. Discuss potential organizational effects.

💡 Hint: Consider the total depreciation that would accumulate over the five years.

Challenge and get performance evaluation