Straight Line Depreciation Calculation Quiz
Authored by Louise Mclean
Business
12th Grade
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first method a business can use to calculate the depreciation of its assets?
Double-declining balance method
Activity-based method
Straight-line method
Units of production method
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the historic value of an asset?
Value of the asset at the end of its expected life
Value of the asset when it's disposed of
Value of the asset when initially purchased
Value of the asset after depreciation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is residual value of an asset?
Value of the asset at the end of its expected life
Value of the asset after depreciation
Value of the asset when it's disposed of
Value of the asset when initially purchased
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is depreciation calculated using the straight-line method?
Historic value minus residual value divided by expected life
Historic value multiplied by residual value
Historic value divided by expected life
Residual value divided by expected life
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the yearly depreciation expense for the bakery's van?
£5,000
£15,000
£2,500
£10,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is depreciation recorded by a business?
As an expense on the income statement
As revenue on the income statement
As a liability on the balance sheet
As an asset on the balance sheet
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