Commerce Exam > Commerce Notes > Accountancy Class 11 > Worksheet: Depreciation, Provisions and Reserves
Worksheet: Depreciation, Provisions and Reserves | Accountancy Class 11 - Commerce PDF Download
Fill In The Blanks
Q1: Depreciation is a non- cash expenditure because it does not involve any ____.
Q2: Land is not depreciated as its useful life is ____.
Q3: Depletion is done in case of _____.
Q4: The amount of depreciation charged on machinery is debited to _____.
Q5: Providing depreciation reduces the amount of profit available for _____.
MCQs
Q1: Depreciation is calculated from the date of:
(a) Purchase of an asset
(b) Receipt of an asset at business premises
(c) Asset put to use
(d) Asset installed UND
Q2: Amortisation refers to writing off
(a) Depleting Asset
(b) Wasting asset
(c) Intangible Asset
(d) Fictitious asset Rem
Q3: Which one of the following is not an objective of providing depreciation
(a) For ascertaining the true profit and loss
(b) Showing the True And Fair view of financial statement
(c) For avoiding overpayment of income tax
(d) Depreciation is a gradual and continuing process.
Q4: Depreciation is a
(a) Reserve
(b) Provision
(c) Both a. and b.
(d) None of these
Q5: An asset was purchased for Rs. 1,00,000 and as per Reducing Balance Method, 10 % depreciation is charged every year. What is the value of asset at the end of 4 years.
(a) Rs.65,610
(b) Rs. 65,680
(c) Rs.75,610
(d) Rs.75,630
Short Answer Questions
Q1: What is depreciation, and why is it important in accounting?
Q2: How do you calculate annual depreciation using the Straight Line Method?
Q3: What is the scrap value of an asset?
Q4: How do we record the purchase of new furniture in the accounts?
Q5: Can you explain what a balance carried down means?
Q6: Calculate the annual depreciation and the rate of depreciation using the Straight Line Method for a machine purchased for 96,000 with additional costs of 24,000 and a residual value of 72,000 over 4 years.
Q7: X Ltd. purchased a machine for 400,000 and spent 50,000 on installation. What is the annual depreciation using the Fixed Instalment Method over 10 years with a residual value of 50,000?
Q8: What is the total depreciation expense for a machine with an annual depreciation of 15,000 over 3 years?
Q9: How do you prepare a Machinery Account for the first three years if the annual depreciation is 12,000?
Q10: What is the net book value of an asset?
You can access the solutions to this worksheet here.
The document Worksheet: Depreciation, Provisions and Reserves | Accountancy Class 11 - Commerce is a part of the Commerce Course Accountancy Class 11.
All you need of Commerce at this link: Commerce
|
61 videos|227 docs|39 tests
|
FAQs on Worksheet: Depreciation, Provisions and Reserves - Accountancy Class 11 - Commerce
| 1. What is depreciation? |  |
Depreciation refers to the systematic allocation of the cost of an asset over its useful life. It is a way to recognize the decrease in value of an asset due to factors such as wear and tear, obsolescence, or passage of time.
| 2. How is depreciation calculated? | |
Depreciation can be calculated using various methods such as straight-line method, declining balance method, or units of production method. The most common method is the straight-line method, which involves dividing the cost of the asset by its useful life.
| 3. What is the purpose of provisions and reserves? | |
Provisions and reserves are set aside by a company to meet specific future expenses or losses. Provisions are made for uncertain liabilities, while reserves are created to strengthen the financial position of the company or to distribute dividends to shareholders.
| 4. How are provisions and reserves different from each other? | |
Provisions are made for known future expenses or losses that are uncertain in terms of timing or amount. Reserves, on the other hand, are created out of retained earnings to strengthen the financial position of the company or for other specific purposes.
| 5. What is the impact of depreciation, provisions, and reserves on financial statements? | |
Depreciation is charged as an expense in the income statement, reducing the profit or increasing the loss. Provisions are recorded as liabilities in the balance sheet, reducing the company's net worth. Reserves are also recorded in the balance sheet, either as a part of equity or as a separate item, indicating the company's retained earnings.
About this Document
4.71/5
Rating
Sep 04, 2025
Last updated
Related Exams
Document Description: Worksheet: Depreciation, Provisions and Reserves for Commerce 2025 is part of Accountancy Class 11 preparation.
The notes and questions for Worksheet: Depreciation, Provisions and Reserves have been prepared according to the Commerce exam syllabus. Information about Worksheet: Depreciation, Provisions and Reserves covers topics
like Fill In The Blanks, MCQs, Short Answer Questions and Worksheet: Depreciation, Provisions and Reserves Example, for Commerce 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Worksheet: Depreciation, Provisions and Reserves.
Introduction of Worksheet: Depreciation, Provisions and Reserves in English is available as part of our Accountancy Class 11
for Commerce & Worksheet: Depreciation, Provisions and Reserves in Hindi for Accountancy Class 11 course.
Download more important topics related with notes, lectures and mock test series for Commerce
Exam by signing up for free. Commerce: Worksheet: Depreciation, Provisions and Reserves | Accountancy Class 11 - Commerce
Description
Full syllabus notes, lecture & questions for Worksheet: Depreciation, Provisions and Reserves | Accountancy Class 11 - Commerce - Commerce | Plus excerises question with solution to help you revise complete syllabus for Accountancy Class 11 | Best notes, free PDF download
Information about Worksheet: Depreciation, Provisions and Reserves
In this doc you can find the meaning of Worksheet: Depreciation, Provisions and Reserves defined & explained in the simplest way possible. Besides explaining types of
Worksheet: Depreciation, Provisions and Reserves theory, EduRev gives you an ample number of questions to practice Worksheet: Depreciation, Provisions and Reserves tests, examples and also practice Commerce
tests
Related Searches
video lectures
,Provisions and Reserves | Accountancy Class 11 - Commerce
,Free
,Worksheet: Depreciation
,Worksheet: Depreciation
,Viva Questions
,Previous Year Questions with Solutions
,past year papers
,Summary
,Sample Paper
,Semester Notes
,study material
,Provisions and Reserves | Accountancy Class 11 - Commerce
,Important questions
,MCQs
,mock tests for examination
,shortcuts and tricks
,Exam
,ppt
,Extra Questions
,practice quizzes
,Objective type Questions
,Provisions and Reserves | Accountancy Class 11 - Commerce
,Worksheet: Depreciation
;
Additional Information about Worksheet: Depreciation, Provisions and Reserves for Commerce Preparation
Worksheet: Depreciation, Provisions and Reserves Free PDF Download
The Worksheet: Depreciation, Provisions and Reserves is an invaluable resource that delves deep into the core of the Commerce exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Worksheet: Depreciation, Provisions and Reserves now and kickstart your journey towards success in the Commerce exam.
Importance of Worksheet: Depreciation, Provisions and Reserves
The importance of Worksheet: Depreciation, Provisions and Reserves cannot be overstated, especially for Commerce aspirants.
This document holds the key to success in the Commerce exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Worksheet: Depreciation, Provisions and Reserves Notes
Worksheet: Depreciation, Provisions and Reserves Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Worksheet: Depreciation, Provisions and Reserves.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Worksheet: Depreciation, Provisions and Reserves Notes on EduRev are your ultimate resource for success.
Worksheet: Depreciation, Provisions and Reserves Commerce Questions
The "Worksheet: Depreciation, Provisions and Reserves Commerce Questions" guide is a valuable resource for all aspiring students preparing for the
Commerce exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Worksheet: Depreciation, Provisions and Reserves on the App
Students of Commerce can study Worksheet: Depreciation, Provisions and Reserves alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Worksheet: Depreciation, Provisions and Reserves,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Worksheet: Depreciation, Provisions and Reserves is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup