Test your learning about ‘Depreciation’ chapter by answering 10 short questions given below. We suggest you try to answer each question yourself before clicking on the ‘see answer’ button.
If you find difficulty in answering these questions, read ‘Depreciation‘ chapter thoroughly from explanation section of the website.
1. Define depreciation?
2. Give any three objects of providing depreciation?
3. Name the methods of calculating depreciation?
4. What do you mean by scrap value?
5. What do you mean by depletion?
6. Define the term "Amortization"?
7. Explain the term "Tangible plant Assets"?
8. Explain the term "Intangible assets"?
9. Define "original cost method" of depreciation?
10. Explain diminishing balance method of depreciation?