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12th Principles of Accounting Chapter 5 Test

Here you can prepare 12th Class Principles of Accounting Chapter 5 Depreciation, Provisions and Reserves Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 5 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 5 (Depreciation, Provisions and Reserves)

This online test contains MCQs about following topics:

. Various Definition of Depreciation . Causes of Depreciation . Need for Provision of Depreciation . Depreciation Vs. Fluctuation . Characteristics of Depreciation . Methods of Charging Depreciation . Methods of Charging Depreciation . Distinction between Depreciation A/C and Depreciation Reserve A/C . Distinction between General Reserve & Specific Reserve . Distinction between Reserve and Provision . Distinction between Reserve and Reserve Fund

ICOM Part 2 Accounting Ch 5 Test
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12th class Principle of Accounting chapter 5 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 5 (Depreciation, Provisions and Reserves)

Sr. # Questions Answers Choice
1 Depreciation occurs
  • A. Up to one year
  • B. Up to two years
  • C. Till the last day of the estimated working life of asset
  • D. Up to the replacement of old asset
2 Decrease in the value of an asset due to change in habit or taste of people.
  • A. Efflux of time
  • B. Accident
  • C. Obsolescence
  • D. Wear and tear
3 Depreciation means:
  • A. Exhaustion of the effective life of an asset
  • B. Diminution in intrinsic value of an asset
  • C. Reduction in the value of fixed asset due to use in business
  • D. All of the above
4 According to provision of companies ordinance 1984 dividend cannot be declared without.
  • A. Appreciation
  • B. Depreciation
  • C. Replacement of assets
  • D. "a" and "b"
5 If depreciation is not taken into account, the value of asset in the books.
  • A. May be more
  • B. May be less
  • C. No change
  • D. May be more or less
6 Decline in the value proportionate to the quantum of production e.g. mine, quarry etc.
  • A. Amortization
  • B. Depletion
  • C. Depreciation
  • D. Wear and tear
7 The physical deterioration in asset due to use in business.
  • A. Depletion
  • B. Obsolescence
  • C. Wear and tear
  • D. Accident
8 The permanent and continuous diminution in the quality, quantity or value of an asset:
  • A. Appreciation
  • B. Diminution
  • C. Reduction
  • D. Depreciation
9 Internal causes of depreciation:
  • A. Wear and tear
  • B. Depletion
  • C. Obsolescence
  • D. "a" and "b"
10 Depreciation is an:
  • A. Expense
  • B. Revenue
  • C. Liability
  • D. Capital

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 5 Online Test

A

Abdullah Iftikhar

Lahore30 - Dec - 2021

15/15
01 Mins 49 Sec
A

Areeba Nasir

Lahore30 - Nov - 2021

14/15
02 Mins 02 Sec
N

Noor Fatima

Lahore13 - Jan - 2022

13/15
01 Mins 26 Sec
M

Muhammad Rashid

Lahore05 - Dec - 2021

13/15
02 Mins 23 Sec
A

Anwaar Khan

Lahore25 - Dec - 2021

13/15
02 Mins 26 Sec
A

Abdullah Iftikhar

Lahore30 - Dec - 2021

11/15
02 Mins 12 Sec
M

Muhammad Rashid

Lahore05 - Dec - 2021

10/15
03 Mins 20 Sec
A

Ayesha Tariq

Lahore11 - Dec - 2021

8/15
05 Mins 14 Sec

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    Muhammad Farooq

    12 Sep 2017

    Only accounting test

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    Muhammad Farooq

    12 Sep 2017

    Test in accounting book

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