Day: November 14, 2023

Accounting Multiple Choice Question – 14 November 2023

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

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A vehicle cost £30,000. 

The vehicle was later sold for £9,000 and the profit on disposal was £1,500.

What was the accumulated depreciation of the vehicle on disposal?

Select ONE answer:

  1. £7,500
  2. £9,000
  3. £21,000
  4. £22,500

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 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct – £30k – (£9k – £1.5k) = £22.5k

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