{"id":19349,"date":"2022-06-03T06:00:46","date_gmt":"2022-06-03T00:30:46","guid":{"rendered":"https:\/\/mcq-questions.com\/?p=19349"},"modified":"2022-05-21T12:00:51","modified_gmt":"2022-05-21T06:30:51","slug":"mcq-questions-for-class-11-accountancy-chapter-7","status":"publish","type":"post","link":"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-accountancy-chapter-7\/","title":{"rendered":"MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers"},"content":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers<\/a>. You can also verify your answers from our provided Depreciation, Provisions and Reserves Class 11 MCQs Questions with Answers. So, ace up your preparation with MCQ on Depreciation, Provisions and Reserves Class 11 Objective Questions.<\/p>\n

Depreciation, Provisions and Reserves Class 11 MCQs Questions with Answers<\/h2>\n

Fill in the correct words<\/span><\/p>\n

Question 1.
\nDepreciation is decline in the value of ………………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Assets<\/p>\n<\/details>\n

\n

Question 2.
\nInstallation, freight and transport expenses are a part of ……………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Acquisition cost<\/p>\n<\/details>\n

\n

Question 3.
\nProvision is a ………………. against profit.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Charge<\/p>\n<\/details>\n

\n

Question 4.
\nReserve created for maintaining a stable.rate of dividend is termed as ………………….<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: Dividend Equilisation Fund<\/p>\n<\/details>\n

\n

State whether the following statements are True or False.<\/span><\/p>\n

Question 1.
\nDepreciation is a non-cash expense.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 2.
\nDepreciation is also charged on current assets.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 3.
\nDepreciation is decline in the market value of tangible fixed assets.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 4.
\nThe main cause of depreciation is wear and tear caused by its usage.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 5.
\nDepreciation must be charged so as to ascertain true profit or loss of the business.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 6.
\nDepletion term is used in case of intangible assets.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 7.
\nDepreciation provides fund for replacement.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: True<\/p>\n<\/details>\n

\n

Question 8.
\nWhen market value of an asset is higher than book value, depreciation is not charged.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 9.
\nDepreciation is charged to reduce the value of asset to its market value.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Question 10.
\nIf adequate maintenance expenditure is incurred, depreciation need not be charged.<\/p>\n

\nAnswer<\/span><\/summary>\n

Answer: False<\/p>\n<\/details>\n

\n

Use the above-provided NCERT MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers Pdf free download and get a good grip on the fundamentals. Need any support from our end during the preparation of CBSE Class 11 Accountancy Depreciation, Provisions and Reserves MCQs Multiple Choice Questions with Answers then leave your comments below. We’ll revert back to you soon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers Pdf free download are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 11 Accountancy with Answers. You can also verify your answers from our provided …<\/p>\n

MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers<\/span> Read More »<\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":""},"categories":[35],"tags":[],"yoast_head":"\nMCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers - MCQ Questions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mcq-questions.com\/mcq-questions-for-class-11-accountancy-chapter-7\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers - MCQ Questions\" \/>\n<meta property=\"og:description\" content=\"Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 7 Depreciation, Provisions and Reserves with Answers Pdf free download are compiled here to get good practice on all fundamentals. 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