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Subject - Accounting:

General Concepts

MCQ - 46-48

Question:

If an accumulated provision for depreciation account is in use then the entries for the year’s depreciation would be:

  1. Credit Asset Account, debit Provision for Depreciation Account
  2. Debit Asset Account, credit Profit and Loss Account
  3. Credit Provision for Depreciation Account, debit Profit and Loss Account
  4. Debit Asset Account, credit Profit and Loss Account

Correct Answer: C

Explanation:

Not available

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Record Performance

355 MCQ for effective preparation of the test of General Concepts of Accounting section.

Read the MCQ statement: If an accumulated provision for depreciation account is in use then the entries for the year’s depreciation would be:, keenly and apply the method you have learn through the video lessons for General Concepts to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 46-48.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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