O-LevelAccountingAccounting procedures7707/11 · May/June 2014 · Q141 Mark

Machinery is depreciated at 20% per annum using the diminishing (reducing) balance method. A machine, cost $20000, is sold after two years at book value. What was the sale price of the machine?

A$7200

B$12000

C$12800

D$16000

✓ Correct answer

C: $12800

Oracle Prep sorts past-paper questions by topic, so you can drill Accounting procedures and see which topics are most likely to come up next.

Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2014 Paper 1 Variant 1, question 14.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content