A-LevelAccountingThe accounting cycle9706/12 · Oct/Nov 2021 · Q21 Mark

On which basis will non-current assets be valued if the business is not a going concern?

Anet book value

Boriginal cost

Cthe amount they could be sold for

Dthe value placed on them by the owner

✓ Correct answer

C: the amount they could be sold for

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Topic: The accounting cycle, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2021 Paper 1 Variant 2, question 2.

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