3. Finance and Accounts
Depreciation — Quiz
Test your understanding of depreciation with 5 practice questions.
Practice Questions
Question 1
What is depreciation in business accounting?
Question 2
Which of the following is most likely to depreciate?
Question 3
Why do businesses record depreciation in their accounts?
Question 4
Which statement best describes straight-line depreciation?
Question 5
A machine costs $10,000$ and has a useful life of $5$ years with no scrap value. Using straight-line depreciation, what is the annual depreciation charge?