A-LevelAccountingNon-Current Assets and DepreciationOct/Nov 2013Paper 1 Q41 Mark
A building cost $340000. The accumulated depreciation on the building was $47600. It was decided to revalue the building to its market value of $560000. What is the balance on the revaluation reserve?
A$172400
B$220000
C$267600
D$512400
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of non-current assets and depreciation within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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