Depreciation MCQs

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on May 1, 2022

Test your knowledge with this multiple choice question (MCQ) test on depreciation. If you can answer every question correctly, it will be excellent preparation for your exams, interviews, and professional work.

If you find any questions difficult, visit the depreciation chapter on our website to find out the necessary details about depreciation (see the Financial Accounting section).

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Frequently Asked Questions

When does Depreciation start on a machine?

Depreciation starts on a machine when it is put to use.

What is Salvage Value?

Declining-balance, straight-line, sum-of-the-years’ digits are the Methods of Depreciation

What is Salvage Value?

What is Salvage Value?

What is Depreciation in accounting?

In accounting terms, Depreciation is defined as the reduction of the recorded cost of a fixed asset in a systematic manner until the asset’s value becomes zero or negligible.

Is Depreciation an asset?

Depreciation expense is not a current asset; it is reported on the income statement and other regular business expenses. Accumulated Depreciation is listed on the balance sheet.

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

22 thoughts on "Depreciation MCQs"

    1. Thanks! Let us know what other kinds of information you’d like to see and we’ll try to add it in the future. Best of luck!

    1. Glad you found the material helpful. Let us know what other kinds of information you’d like to see and we’ll try to add it in the future. Best of luck!

    1. Glad you found the material helpful. Let us know what other kinds of information you’d like to see and we’ll try to add it in the future. Best of luck!

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