HSC Commerce (English Medium) इयत्ता ११ वी - Maharashtra State Board Question Bank Solutions for Book Keeping and Accountancy

Write the word/term/phrase which can substitute the following statement:

Expenses incurred for fixation of the new asset to bring it in working condition.

Write the word/term/phrase which can substitute the following statement:

Excess of Selling price of fixed asset over its Written Down Value.

Write the word/term/phrase which can substitute the following statement:

Method of depreciation that cannot reach to zero value.

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

Depreciation is charged only on ______ assets.

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

The amount spent on installation of new machinery is a ______ expenditure.

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

The amount that a fixed asset is expected to realise on its disposal is known as ______

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

The amount of depreciation reduces year after year under ______

Select the most appropriate answer from the alternatives given below and rewrite the sentence:

The amount of depreciation remains constant every year under ______

State whether the following statement is True or False with reasons:

Depreciation is charged on fixed assets.

State whether the following statement is True or False with reasons:

Depreciation increases the value of the asset.

State whether the following statement is True or False with reasons:

The Profit or Loss on sale of fixed asset is ascertained only after charging depreciation.

State whether the following statement is True or False with reasons:

Wages paid for installation of Machinery are debited to Wages A/c.

State whether the following statement is True or False with reasons:

Depreciation is charged on Current Assets only.

State whether the following statement is True or False with reasons:

Depreciation need not be charged when business is making losses.

Do you agree or disagree with the following statement:

Under written down value method the Depreciation curve slopes parallel to 'X' axis.

Do you agree or disagree with the following statement:

The rate of depreciation depends upon the life of fixed asset.

Do you agree or disagree with the following statement:

By charging depreciation on fixed assets ascertainment of true and fair financial position is possible.

Complete the following sentence:

Depreciation is charged on ______ asset.

Complete the following sentence:

Wages paid for Installation/fixation of Machinery is debited to ______ account.

Complete the following sentence:

Under ______ system, the amount of depreciation changes every year.