Accounting Objective for B.COM students

1. Interest in debited to the asset account:

(A) Insurance policy method

(B) Depletion method

(C) Annuity Method

(D) Depreciation fund method

2. For the replacement of asset the provision method is:

(A) Written down value method

(B) Annuity method

(C) Sinking fund 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) Scrap value

(C) Global price

(D) Cost price

5. The net charge on the profit and loss account is same as:

(A) Both A and B

(B) Annuity method

(C) Depreciation fund method

(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