When an asset is sold, the entries for the accumulated depreciation… — WAEC Accounts - principles of accounts 2014 · Teacha

Question 22

When an asset is sold, the entries for the accumulated depreciation are; debit

A.assets disposal account; credit provision for depreciation account
B.provision for depreciation account; credit asset disposal account
C.fixed asset account; credit asset disposal account
D.asset disposal account; credit fixed asset account

Objective

Question details

Exam body: WAEC
Subject: Accounts - principles of accounts
Year: 2014
Question no.: #22
Type: Objective

More from this paper

Q18which of the following is not an administrative expenses in a manufacturing…
Q19Which of the following items is not contained in the Receipts and Payments…
Q20The accounting concept underlying the treatment of personal expenses of the…
Q24In a not-for-profit making organization, when the total income is less than the…
Q25The concept that states that a business should not lay claim to any profits…
Q26When shares are issued above their nominal value, the excess above the nominal…

See all Accounts - principles of accounts 2014 questions