Straight Line Method- Fractional Year

Quiz by Sameera Albanki

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

10 questions
• Q1
Omar Company bought a Van at BD 45000. The Van expected to have Residual value of BD 3000 at the end of 4 year useful life. How much is the Depreciation Base?
BD 42000
BD 3000
BD 45000
BD 48000
30s
• Q2
Fractional year is the year which starts on..?
Any month from calendar year other than December
February
Any month from calendar year other than January
Any month from the calendar year
30s
• Q3
Al Mahmood Company purchased a new Machinery at BD 50000. The company paid BD 3000 for shipping and taxing, and BD 800 for installation and also paid BD 1500 for advertising. What is the acquisition cost of machine?
BD 50800
BD 54500
BD 55300
BD 50000
30s
• Q4
Accumulated depreciation in the 1st year equals to...?
Acquisition cost
Depreciation expense
Zero
Depreciation base
30s
• Q5
Acquisition cost is = .............?
Original cost - residual value
Original cost + expenses on purchase
Total of expenses on purchase
Original cost - expenses on purchase
30s
• Q6
A Copy machine was bought on April 1, 2009 at a total cost of BD 20000. The estimated Salvage value is BD3000 and useful life is 5 years. What is the amount of Accumulated Depreciation at December 31, 2009?
BD 3400
BD 17000
BD 23000
BD 12750
30s
• Q7
Define depreciation
It is the original cost plus any additional costs incurred on buying the assets.
It is reporting period consisting of any 12 consecutive months, in which the starting month is not necessarily beginning from 1st January.
It is the allocation of the cost of tangible asset over its useful economic life. In addition, it is a non-cash expense that reduces the value of an asset over time.
It is the allocation of the cost of fixed asset to the period in which they are used.
30s
• Q8
What is salvage cost?
It is an estimation of the value of the asset at the time it will be sold or disposed of; it may be zero or even negative. It is also known as scrap value or residual value.
It is the total cost of an asset at the end of each year.
It is the period over which you expect to get the benefit from the asset.
It is the cumulative sum of all depreciation expense recorded for an asset.
30s
• Q9
Net book value is =....?
Depreciation Expense - Accumulated Depreciaition
Acquisition cost -Accumulated depreciation
Depreciation base - Acquisition cost
Acquisition cost- Salvage cost
30s
• Q10
Depreciation rate is = .............?
(useful life) /100
(useful life) X 100
(2/useful life) X 100
(1/useful life) X 100
30s

Teachers give this quiz to your class