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Important Questions

Depreciation — Important Questions

ICSE · Class 11 · Accountancy

63 important questions from Depreciation for ICSE Class 11 Accountancy, with answers. Includes multiple choice and multiple correct questions.

63 questions40 flashcards3 formulas & key relations5 concepts

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63 Questions·
multiple choicemultiple correct

Important Questions from Depreciation

1multiple choice
3 marks

A machine was bought for ₹50,000 on 1st January, 2010. A new machine costing ₹60,000 was bought on 1st October, 2012. Depreciation is 10% p.a. on Straight Line basis. What is the depreciation on the new machine for the year 2012-13?

Show answer

₹1,500

Yearly depreciation on the new machine = 10% of ₹60,000 = ₹6,000. It is used for 3 months in 2012-13, so depreciation = ₹6,000 × 3/12 = ₹1,500.

2multiple choice
3 marks

A machine costing ₹70,000 was bought on 1st April, 2012. It is depreciated at 10% p.a. on Straight Line basis. What was the book value on 31st March, 2014?

Show answer

₹56,000

Yearly depreciation = 10% of ₹70,000 = ₹7,000. For two years, total depreciation = ₹14,000. Book value = ₹70,000 − ₹14,000 = ₹56,000.

3multiple choice
3 marks

A machine costing ₹64,000 is depreciated at 10% p.a. on Straight Line basis. If it is sold on 1st July after 3 years, what is the depreciation for the 3 months from 1st April to 1st July in the fourth year?

Show answer

₹1,600

Yearly depreciation = 10% of ₹64,000 = ₹6,400. For 3 months, depreciation = ₹6,400 × 3/12 = ₹1,600.

4multiple choice
3 marks

A machine was bought for ₹1,00,000 on 1st April, 2011. Depreciation is 20% p.a. on Written Down Value. What is the book value after 2 years?

Show answer

₹64,000

Year 1 depreciation = 20% of ₹1,00,000 = ₹20,000, so value = ₹80,000. Year 2 depreciation = 20% of ₹80,000 = ₹16,000, so book value = ₹64,000.

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Frequently Asked Questions

What are the important topics in Depreciation for ICSE Class 11 Accountancy?
Key topics in Depreciation include Meaning, Nature, and Characteristics of Depreciation, Causes of Depreciation, Need or Objectives of Providing Depreciation, Factors Affecting the Amount of Depreciation. Study these first, then practise questions on each for Class 11 exams.
How many important questions are there in Depreciation?
Super Tutor has 63 practice questions for Depreciation, including multiple choice, multiple correct questions. A sample with answers is on this page.

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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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All ICSE Class 11 Accountancy Important Questions

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