A-LevelAccountingAccounting for non-current assets9706/12 · Oct/Nov 2016 · Q21 Mark

A disposal account is used to record the sale of a non-current asset. Which transactions are recorded on the credit side of the disposal account?

Acost, loss on disposal and sale proceeds

Bcost, profit on disposal and sale proceeds

Cdepreciation, loss on disposal and sale proceeds

Ddepreciation, profit on disposal and sale proceeds

✓ Correct answer

C: depreciation, loss on disposal and sale proceeds

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About this question

Topic: Accounting for non-current assets, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2016 Paper 1 Variant 2, question 2.

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