Depreciation involves allocating the historical cost of a long-term asset to expense over the useful life of the asset.

Reinforce your accounting and bookkeeping knowledge with these free crossword puzzles with answers. If you have any difficulty answering the questions, learn more about this topic by reading our mini-lectures covering introductory to Depreciation.

Sample Depreciation Questions

1)  Instead of the physical life of an asset, depreciation is based on the _________ life of the asset.

2)  This is to natural resources as depreciation is to constructed assets used in a business.

3)  When the cash proceeds from the sale of an asset used in the business is less than the asset's book value at the time of the sale, it results in a ________ being reported on the income statement.

4)  The cost of an asset minus the asset's accumulated depreciation is the asset's ___________ value.

5)  A change in an estimate will not change the amounts reported in _____________ years.

6)  Changing the useful life of an asset will change the reported amounts of depreciation for the current year and the ___________ years.

7)  An estimated value used in computing depreciation.

8)  The cost of an asset minus the estimated salvage value is the asset's ________________ cost.

9)  The sum-of-the-years' __________ is an accelerated depreciation method.

10)  Another name for the estimated scrap or salvage value of an asset at the end of its useful life.

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