O-LevelAccountingAccounting principles and policies7707/12 · Oct/Nov 2013 · Q111 Mark

A motor vehicle, book value $2400, was sold for $2750. How would this transaction be treated by the business? capital receipt $ revenue receipt $

A– 2750

B350 2400

C2400 350

D2750 –

✓ Correct answer

C: 2400 350

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 11.

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A motor vehicle, book value $2400, was sold for $2750. How would this transaction be treated by the business? capital receipt $ revenue receipt $

✓ Correct answer

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About this question

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