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3 cards from this section. Quick, good the night before a test.
What does depreciation refer to?
Think about what happens to objects as they are used.
Name one tangible fixed asset that can depreciate.
Consider what types of items businesses own.
What does depreciation allow businesses to do?
Think about the relationship between asset value and business reporting.
True or False: Depreciation can only apply to intangible assets.
Consider the nature of the assets being depreciated.
You manage a fleet of delivery vans purchased for ₹5,00,000 each with a useful life of 10 years and a vehicle value drop to ₹1,00,000 at the end. Calculate the straight-line method depreciation each year.
Remember the formula for straight-line depreciation.
A company has machinery worth ₹50,000 expected to last 5 years but is becoming obsolete due to emerging technology. What factors should they consider for depreciation?
Think about what directly affects the machine's utility.
5 more questions in this section. Enroll free to practise them all.
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