O-LevelAccountingAccounting procedures7707/11 · May/June 2015 · Q141 Mark

What is the formula for calculating the depreciation for the year using the revaluation method?

Aclosing valuation + additions during the year – opening valuation

Bclosing valuation – additions during the year – opening valuation

Copening valuation + additions during the year - closing valuation

Dopening valuation – additions during the year - closing valuation

✓ Correct answer

C: opening valuation + additions during the year - closing valuation

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 1, question 14.

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