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DP
Question Practice

If a company implements an accounting policy to change the useful life of an asset, what could be the consequence for depreciation?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Depreciation, Provisions and Reserves
Question Bank

If a company implements an acc...

Single Answer MCQ
Q-00054244

If a company implements an accounting policy to change the useful life of an asset, what could be the consequence for depreciation?

1

Immediate write-off of asset

2

Adjustment of depreciation expense going forward

3

No Impact at all

4

Only previous year's depreciation is affected

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Q1.

What is depreciation?

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Q2.

Which method calculates depreciation as a fixed percentage of the book value each year?

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Q3.

What factor does NOT affect the calculation of depreciation?

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Q4.

What is the salvage value in relation to depreciation?

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