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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
What is depreciation? What are the various methods thereof?
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
depreciation means reduction in the valuev of a fixed asset
used in the business due to wear and tear
methods
1 straight line method
2 diminishing balnce method
3 sinking fund method
4 depreciation fund method
5 machine hour rate method
 
Is This Answer Correct ?    47 Yes 8 No
Potenaik
 
Answer
# 2
when we are using fixed assets there wil be depreciation
and that asset will lost the quality and quantity
periodically its called depreciation. and there are 11
types of depreciation

1 straight line method
2 diminishing balance method
3 annuity method
4 depreciation fund method
5 insurance policy method
6 sum of digits method
7 revaluation method
8 depletion method
9 replacement method
10 machine hour rate method
11 method of reserving a composite sum for repairs,
renewals and depreciation.
 
Is This Answer Correct ?    41 Yes 3 No
Gayathri
 
 
 
Answer
# 3
Depreciation refers to reducing value of assets over the period of time.

The various types of Depreciation are as follows..

1 straight line method
2 diminishing balance method
3 annuity method
4 depreciation fund method
5 insurance policy method
6 sum of digits method
7 revaluation method
8 depletion method
9 replacement method
10 machine hour rate method
11 method of reserving a composite sum for repairs,
renewals and depreciation.
 
Is This Answer Correct ?    9 Yes 2 No
Khazi Raza Mohammed
 
Answer
# 4
depreciation means reduction in the valuev of a fixed asset
used in the business due to wear and tear is called
Depreciation.
METHOD OF DEPRECIATION
1. straight line method
2. diminishing balance method
3. annuity method
4. depreciation fund method
5. sum of digits method
6. revaluation method
7. depletion method
8. machine hour rate method
9. Weighted avweage method
10.sinking fund method.
 
Is This Answer Correct ?    4 Yes 0 No
Rakesh N. Agrawal
 
Answer
# 5
i strongly don't agree with the answers stated above.As for
me i think the answers are incomplete because in a question
like this the students have to state the clearly the
mathematical formula for each but as for the deffination of
depreciation all of them are correct because they all accept
the fact that both the fixed and non fixed assets wear and
tear in their values over a period of time. but still if you
buy a perishable raw material for say production and you
don't store it in a save place and by the time you want the
material the initial value is not there is that not
depreciation.So what i am saying is depreciation is not
necessary loss in the value of fixed assets of e.g.
enterprise e.t.c.
 
Is This Answer Correct ?    3 Yes 0 No
Jokfu Peter Nkewir
 

 
 
 
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what is MNC? Syntel 42
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where do you consider salary in an income statement? whether it is to be taken before gross profit or after net profit? answer with reasons. HP 2
what is mutualfunds? Karvy 4
What is split shares..... FactSet 7
What is TDS & why it is deducted?   8
How much percentage of discounts lost did you have in accounts payable ?percentage increased or decreased?   1
what entry to be passed if we have import item from supplier but in the trasaction some items were broken but we have not claimed to insurence co & the broken items we have purchased from local supplier & the value of broken item is not refundable from first supplier. in this condition ??? Pls help me   1
why BRS is used   5
 
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