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NCERT-DEPRECIATION , PROVISIONS AND RESERVES -QUESTIONS FOR PRACTICE (SHORT ANSWERES)
- What is ‘Depreciation’?
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- State briefly the need for providing depreciation
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- What are the causes of depreciation?
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- Explain basic factors affecting the amount of depreciation.
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- Distinguish between straight line method and written down value method...
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- “In case of a long term asset, repair and maintenance expenses are exp...
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- What are the effects of depreciation on profit and loss account and ba...
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- Distinguish between ‘provision’ and ‘reserve’
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- Give four examples each of ‘provision’ and ‘reserves’.
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- Distinguish between ‘revenue reserve’ and ‘capital reserve’.
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- Give four examples each of ‘revenue reserve’ and ‘capital reserves’.
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- Distinguish between ‘general reserve’ and ‘specific reserve’
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- Explain the concept of ‘secret reserve’.
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