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Question Practice

What is the salvage value in relation to 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

What is the salvage value in r...

Single Answer MCQ
Q-00054193

What is the salvage value in relation to depreciation?

1

Cost of asset at purchase

2

Value of asset at the end of its useful life

3

Total cost of repairs

4

Depreciable cost of the asset

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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.

Using the straight-line method, if an asset costs $10,000, has a salvage value of $1,000, and a useful life of 5 years, what is the annual depreciation expense?

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