Depreciation Provisions and Reserves Class 11 MCQ: Check the below NCERT MCQ Questions for Accountancy Depreciation Provisions and Reserves Class 11 MCQ with Answers Pdf free download. Depreciation Provisions and Reserves Class 11 MCQ  Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Depreciation Provisions and Reserves Class 11 Questions with Answers to help students understand the concept very well.

Depreciation Provisions and Reserves Class 11 MCQ

1. According to the Companies Act, 1956, secret reserves can be created by _______.
(a) Only private company
(b) Banking and insurance companies
(c) Only public company
(d) Companies registered under the Companies Act

2. Which of the following is the example of the revenue reserve?
(a) Profit on redemption of debentures
(b) Profit on revaluation of fixed
(c) Investment fluctuation fund
(d) Profit on re-issue of forfeited shares

3. Which of the following methods of depreciation is not recognised by Income Tax Law?
(a) Straight-line method
(b) Diminishing balance method
(c) Both straight-line and diminishing balance methods
(d) None of the above

4. Which of the following is the example of capital reserve?
(a) Workmen’s compensation fund
(b) General reserve
(c) Premium received on the issue of shares or debentures
(d) None of the above

5. The loss on sale of an asset is debited to _______.
(a) Profit and loss account
(b) Trial balance credit side
(c) Balance sheet
(d) Trading account

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By Team Learning Mantras