Skip to main content
Super TutorResources
Chapter 19 of 28
QuestionsNotesFlashcardsSummaryFormulasQuizConceptsSyllabusPlan
Practice Quiz

Provisions and Reserves

ICSE · Class 11 · Accountancy

Practice quiz for Provisions and Reserves — ICSE Class 11 Accountancy. MCQs and questions with answers to test your preparation.

65 questions30 flashcards5 concepts

Interactive on Super Tutor

Studying Provisions and Reserves? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for practice quiz and more.

Try Super Tutor — Free

1,000+ Class 11 students started this chapter today

Quick Quiz: Provisions and Reserves

0/4

Tap an answer to check it instantly. No sign-up needed for these 4.

1

A company needs ₹50 lakh for debenture redemption after 5 years. If ₹10 lakh is transferred from profits each year, what is the total amount set aside after 5 years?

2

An asset was bought 10 years ago for ₹1,00,000. Depreciation has recovered this original cost. If the replacement cost of a new asset is ₹3,00,000, what additional amount is needed for replacement?

3

A repair provision is to be made for a total estimated repair cost of ₹5,000 over 5 years. What annual amount should be charged each year?

4

A machine is expected to run for 5 years and the total repair cost over its life is ₹5,000. How much total amount will be charged to Profit and Loss Account over 5 years under equal annual provision?

65 Questions·
multiple choicemultiple correct

Sample Questions

1multiple choice
3 marks

A company earns huge profits and transfers ₹2,00,000 to a general reserve each year for 3 years. How much will the general reserve amount to after 3 years?

Show answer

₹6,00,000

General reserve accumulated over 3 years = ₹2,00,000 × 3 = ₹6,00,000.

2multiple choice
3 marks

A reserve for asset replacement is built by transferring ₹40,000 every year for 5 years. What total amount will be available from transfers alone, ignoring interest?

Show answer

₹2,00,000

Total transfer = ₹40,000 × 5 = ₹2,00,000.

3multiple choice
3 marks

An asset replacement reserve needs an additional ₹2,00,000 beyond the depreciation-recovered amount. If the company transfers ₹50,000 per year, how many years are needed to build the additional amount, ignoring interest?

Show answer

4 years

Years needed = ₹2,00,000 / ₹50,000 = 4 years.

4multiple choice
3 marks

A repair provision of ₹1,000 is charged every year for 5 years. What amount will be charged in total, and what is the average yearly charge if the total is spread equally?

Show answer

₹5,000 total and ₹1,000 per year

Total charge = ₹1,000 × 5 = ₹5,000. Equal yearly charge = ₹5,000 / 5 = ₹1,000 per year.

+61 more questions available

Practice All

Frequently Asked Questions

What are the important topics in Provisions and Reserves for ICSE Class 11 Accountancy?
Provisions and Reserves covers several key topics that are frequently asked in ICSE Class 11 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Provisions and Reserves — ICSE Class 11 Accountancy?
Understand the core concepts first, then work through the 65 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.

Sources & Official References

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

More resources for Provisions and Reserves

All 28 chapters — ICSE Class 11 Accountancy Practice Quiz

For serious students

Get the full Provisions and Reserves chapter — for free.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan for ICSE Class 11 Accountancy.

Try Super Tutor Free
Try the full chapter — Free