1.What is the primary purpose of recording depreciation in accounting?
2.What is the primary objective of depreciation in accounting?
3.Which statement accurately describes the depreciation behavior under the diminishing balance method?
4.A used car is bought for ₹200,000 and sold for ₹140,000 after two years. If depreciation is applied at 10% per annum using the written down value method, what is the resulting profit or loss from the sale?
5.A used car was bought for ₹200,000 and sold two years later for ₹140,000. If depreciation is applied at 10% per annum using the Straight Line Method (SLM), what is the resulting profit or loss from the sale?
6.Identify the option that is not a recognized technique for calculating depreciation.
7.A provision is generally established to account for which type of liabilities?
8.Which of the following does NOT contribute to discrepancies between the cash book balance and the bank passbook balance?
9.What does a debit balance shown in the bank passbook indicate?
10.Which of the following are advantages of preparing a Bank Reconciliation Statement?
11.Which financial record includes the bank reconciliation statement as a component?
12.What is the purpose of preparing a bank reconciliation statement?
13.Why is a Bank Reconciliation Statement prepared?
14.What causes a discrepancy between the bank balance shown in the Pass Book and the Cash Book?
15.In a bank passbook, what does the debit entry represent?
16.Which of the following factors are considered when preparing an adjusted Cash Book?
17.Which of the following documents is unnecessary when preparing a Bank Reconciliation Statement?
18.Typically, the term 'fund' refers to the difference between which two financial elements?
19.How is cash collected from debtors classified in terms of fund flow?
20.Which of the following expenses is not classified as a revenue expense?