Depreciation, Provisions and Reserves
Bihar Board · Class 11 · Accountancy
Flashcards for Depreciation, Provisions and Reserves — Bihar Board Class 11 Accountancy. Quick Q&A cards covering key concepts, definitions, and formulas.
Interactive on Super Tutor
Studying Depreciation, Provisions and Reserves? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for flashcards and more.
1,000+ Class 11 students started this chapter today
What is depreciation in accounting terms?
Answer
Depreciation is that part of the cost of a fixed asset which has expired on account of its usage and/or lapse of time. It is an expired cost or expense charged against the revenue of a given accountin…
What are the three main causes of depreciation?
Answer
1. Wear and tear due to use or passage of time - deterioration from business operations and exposure to natural elements 2. Expiration of legal rights - assets like patents, copyrights losing value af…
Calculate annual depreciation using Straight Line Method: Machine cost: ₹2,50,000 Useful life: 10 years Residual value: ₹50,000
Answer
Formula: Annual Depreciation = (Cost - Residual Value) ÷ Useful Life Calculation: Annual Depreciation = (₹2,50,000 - ₹50,000) ÷ 10 = ₹2,00,000 ÷ 10 = ₹20,000 per year Rate of Depreciation = (₹20,000…
What is the Written Down Value (WDV) method of depreciation?
Answer
Under WDV method, depreciation is charged on the book value (written down value) of the asset at the beginning of each year. A fixed percentage is applied to the reducing balance each year. The deprec…
What is the difference between depreciation, depletion, and amortisation?
Answer
Depreciation: Used for tangible fixed assets (machinery, buildings) Depletion: Used for natural resources (mines, quarries) - decline due to extraction Amortisation: Used for intangible assets (patent…
Compare Straight Line Method and Written Down Value Method
Answer
Straight Line Method: - Fixed annual depreciation amount - Based on original cost - Assets fully depreciated to scrap value - Not recognized by Income Tax Act Written Down Value Method: - Decreasing …
What journal entry is made to record depreciation when charging directly to asset account?
Answer
Two entries are made: 1. Depreciation A/c Dr. (with depreciation amount) To Asset A/c (To reduce asset value) 2. Profit & Loss A/c Dr. (with depreciation amount) To Depreciation A/c …
What journal entry is made when maintaining Provision for Depreciation Account?
Answer
Two entries are made: 1. Depreciation A/c Dr. (with depreciation amount) To Provision for Depreciation A/c (To accumulate depreciation) 2. Profit & Loss A/c Dr. (with depreciation amount) …
+14 more flashcards available
Practice AllFrequently Asked Questions
What are the important topics in Depreciation, Provisions and Reserves for Bihar Board Class 11 Accountancy?
How to score full marks in Depreciation, Provisions and Reserves — Bihar Board Class 11 Accountancy?
How many flashcards are available for Depreciation, Provisions and Reserves?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Depreciation, Provisions and Reserves
Important Questions
Practice with board exam-style questions
Syllabus
What topics to cover
Revision Notes
Key points for last-minute revision
Study Plan
Step-by-step plan to ace this chapter
Formula Sheet
All formulas in one place
Chapter Summary
Understand the chapter at a glance
Practice Quiz
Test yourself with a quick quiz
Concept Maps
See how topics connect visually
NCERT Solutions
Every textbook question solved step by step
For serious students
Get the full Depreciation, Provisions and Reserves chapter — for free.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for Bihar Board Class 11 Accountancy.