O-LevelAccountingAccounting proceduresOct/Nov 2017Paper 1 Q151 Mark
Imran's financial year ends on 31 December. A machine purchased on 1 January 2015 for $20000 was sold on 30 June 2017 for $8500. The machine had been depreciated using the straight-line method at 25% per annum on a month by month basis. What was the profit or loss on the disposal of the machine?
Aloss $1000
Bloss $1500
Cprofit $1000
Dprofit $1500
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of accounting procedures within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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