GCE Accounting 2022 Objective — Question 19
Question 19 of 50 from the General Certificate of Education (GCE) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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Using the information in Q17, the profit or loss on disposal of the machine was
- A. D320,000 loss
- B. D280,000 profit
- C. D92,680 profitCorrect
- D. D87,480 loss
Explanation
Profit on disposal = Price sold - Net book value = 880,000 - 787,320 = D92,680 profit.
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