A-LevelAccountingNon-Current Assets and DepreciationOct/Nov 2013Paper 1 Q201 Mark
A vehicle is sold for $1500. It cost $5000 and $3000 depreciation had been provided. Which entry is needed to close the disposal account? debit $ credit $
Adisposal account 500
income statement 500
Bdisposal account 3500
income statement 3500
Cincome statement 500
disposal account 500
Dincome statement 3500
disposal account 3500
✓ 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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