What is the accumulated depreciation

What is the accumulated depreciation



1. Which one of the following inventory systems ascertains the balance of stock or amount of stock at the end of an accounting period or at the time of physical inventory count?
A)Periodic inventory system
B)Perpetual inventory system
C) Either of the Two
2.What is depreciation?
A)Cost of a fixed asset
B)Cost of a fixed asset- repair
C)The residual value of a fixed asset
D)Portion of a fixed asset- cost consumed during the current accounting period 
3.Under which depreciation method the amount of depreciation expenses remains same throughout the useful life of a fixed asset
A)Straight line method
B)Reducing balance method
C)Number of units produced method
D)Machine hours method
4. A company purchased a vehicle for $6000. It will be used for 5 years and its residual value is expected to be $1000. What is the annual amount of deprecation using straight line method of depreciation?
A)$1000
B)$2000
C)$3000
D)$3300 
5.What is the accumulated depreciation?
A)Sum of all depreciation expenses of a fixed asset
B)Depreciation expenses
C)Cost of depletion of assets
D)Future value of fixed asset 



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