Accounting Multiple Choice Question – 24 August 2024

Which of the following statements, if any, are correct?

1 All non-current assets must be depreciated.

2 In a company’s published statement of financial position, tangible assets and intangible assets must be shown separately.

Select ONE answer:

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

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 2

1. Notcorrect
2. Correct ==> Land is usually not depreciated
3. Not correct
4. Not correct

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