Accounting Multiple Choice Question – 10 November 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Accounting

The net book value of a fixed asset, other then freehold land, which has not been revalued, is …..

Select ONE answer:

  1. the amount it cost to acquire it.
  2. the amount it would cost to buy it, or a similar asset, now.
  3. the amount it cost to acquire it less the aggregate (total) depreciation charged on it.
  4. the amount it cost to acquire it less its estimated scrap value.

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. is the asset’s actual cost.
  2. is the asset’s replacement cost
  3. Correct
  4. is the total amount of depreciation to be charged over the life of the asset.

 

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s