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Question Practice

Which of the following statements is TRUE regarding depreciation?

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

Which of the following stateme...

Single Answer MCQ
Q-00054268

Which of the following statements is TRUE regarding depreciation?

1

Depreciation applies only to current assets

2

Depreciation is based on market value

3

Depreciation is necessary for accurate profit calculation

4

Depreciation can be ignored for financial statements

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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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