Depreciation: Definition, Formula & Examples


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question 1 of 3

Which method of depreciation is used to depreciate land?

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1. To calculate double-declining balance depreciation, you need to know all of the following EXCEPT which one?

2. What is the value left over at the end of an asset's useful life called?

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About This Quiz & Worksheet

Several quiz questions will give you a definition related to depreciation expense. You will then need to select the correct term from the choices provided. Other questions ask you about factors involved in an asset's depreciation.

Quiz & Worksheet Goals

The quiz will test you on the following:

  • Depreciation
  • Costs of assets
  • Double-declining balance depreciation
  • Other types of depreciation

Skills Practiced

These tools require you to practice these skills:

  • Reading comprehension - ensure that you draw the most important information from the related accounting lesson
  • Interpreting information - verify that you can read information regarding depreciation and interpret it correctly
  • Defining key concepts - ensure that you can accurately describe the value that is left over at the end of an asset's useful life
  • Information recall - access the knowledge you've gained regarding the cost of an asset

Additional Learning

Finish the quiz and head over to our corresponding lesson, How to Calculate Depreciation Expense: Definition & Formula. The lesson will help you cover the following topics:

  • Property class
  • Steps involved in double-declining balance depreciation
  • Unit-of-production depreciation