The students will be able to
- To elucidate the meaning of depreciation and differentiate it from amortisation and depletion;
- To utter the need for charging depreciation and identify its causes;
- To calculate depreciation using straight line method and written down value method;
- To record transactions relating to depreciation and disposition of assets;
- To elucidate the meaning and reason of creating provisions and reserves;
- To differentiate between reserves and provisions;
- To explain the nature of various types of provisions and reserves including secret reserves and the accounting thereof.
- This is only a practice test, it is designed to help you revise your concepts
- The test contains questions, only 1 option is correct for each question
- This is a timed test.
- After you have finished the test, press on the 'Finish Test' button to know your score and get the correct answers