Accounting Multiple Choice Questions (MCQs) from 16 to 20.
16. The expected disposal value of the asset (after deducting disposal costs) at the end of its expected useful life is called
(A) residual value
(B) net book value
(D) substance over form
17. The figure that appears in the statement of financial position, after the depreciation, is known as
(B) substance over form
(C) residual value
(D) net book value
18. Which from the following asset is NOT depreciated?
(A) I only
(B) II only
(C) I and II
(D) II and III
19. Depreciation is normally charged as
20. A company purchases a non-current asset in Year 1 for $90,000. The depreciation charge is $15,000. What net book value would be recorded in financial position statement (or balance sheet) at the end of Year-2?
ANSWERS: ACCOUNTING MULTIPLE CHOICE QUESTIONS
16. (A) residual value
17. (D) net book value
18. (C) I and II
19. (C) expenses
20. (B) $60,000. Next: Accounting Questions 21–25