A-LevelAccountingBudgeting and budgetary control9706/12 · May/June 2014 · Q301 Mark

Sybil owns a vehicle which on 1 August 2014 will be shown at a cost of $10000 with accumulated depreciation of $6000. On that date she expects to trade it in against a new vehicle with a cost of $15000, receiving a trade-in allowance of $3500. Which figure will appear in Sybil's cash budget for August 2014?

A$5000

B$11000

C$11500

D$15000

✓ Correct answer

C: $11500

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Topic: Budgeting and budgetary control, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2014 Paper 1 Variant 2, question 30.

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