Depreciation and Disposal
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Questions and Answers

Which method is used for tracking the depreciation of fixed assets?

  • Straight-line method (correct)
  • Cash method
  • Accrual method
  • Double-declining balance method

    • What is the purpose of recording the disposal of fixed assets?

  • To calculate the net book value of the assets (correct)
  • To determine the market value of the assets
  • To track the depreciation of the assets
  • To evaluate the performance of the company

    • What is the main benefit of maintaining an accurate record of fixed asset disposals?

  • Ensuring compliance with accounting standards
  • Increasing shareholder value
  • Improving financial decision-making (correct)
  • Reducing tax liabilities

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