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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is depreciation?
💡 Hint: Think about how expenses are accounted for over time.
Question 2
Easy
Name one cause of depreciation.
💡 Hint: Consider factors that reduce asset value.
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 help match in accounting?
- Assets and Liabilities
- Expenses and Revenue
- Costs and Profits
💡 Hint: Consider how accounting reflects economic reality.
Question 2
True or False: Depreciation is a cash expense.
- True
- False
💡 Hint: Think about cash flow versus accounting records.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company buys a delivery truck for $40,000. The estimated residual value is $4,000, and the useful life is 8 years. Using the Straight Line Method, calculate annual depreciation and the book value at the end of year 4.
💡 Hint: Break down the problem step by step.
Question 2
Discuss the implications of changing a depreciation method from Straight Line to WDV for a company that has highlighted lower profits due to depreciation. What factors could justify this change?
💡 Hint: Think about financial strategies and regulatory influences.
Challenge and get performance evaluation