A-LevelAccountingAccounting for non-current assets9706/12 · May/June 2017 · Q31 Mark

Amitav purchased a van costing $20000. He provided an old van with a net book value of $8000 in part exchange. There was a profit on disposal of $1500. What was the cash outflow arising from the purchase?

A$9500

B$10500

C$12000

D$13500

✓ Correct answer

B: $10500

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Topic: Accounting for non-current assets, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2017 Paper 1 Variant 2, question 3.

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