Accounting Objective for B.COM students

By: Prof. Dr. Fazal Rehman | Last updated: May 21, 2025

1. : Interest in debited to the asset account:
(A) Insurance policy method
(B) Depletion method
(C) Depreciation fund method
(D) Annuity Method

2. : For the replacement of asset the provision method is:
(A) Sinking fund method
(B) Annuity method
(C) Written down value method
(D) Insurance policy method

3. : The profit on depreciation policy is:
(A) Profit and loss account
(B) Asset account
(C) Depreciation fund account
(D) Investment account

4. : The asset always appears in the provision method of depreciation is:
(A) Market price
(B) Global price
(C) Scrap value
(D) Cost price

5. : The net charge on the profit and loss account is same as:
(A) Depreciation fund method
(B) Annuity method
(C) Both A and B
(D) None of these

6. : The depreciation fund method is usually known as:
(A) Annuity method
(B) Sinking fund method
(C) Depreciation method
(D) Sum of year digits method