Question 4
Question 4 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
1. Financial accounting (...
1.5. Preparation of financial state...

the distinction between capital reserves (share premium and revaluation reserve) and revenue reserves (retained earnings and general reserve)

3. Financial accounting (...
3.1. Preparation of financial state...

how to prepare a realisation account and a revaluation account

1. Financial accounting (...
1.3. Accounting for non-current ass...

the effect on profit/loss and asset value of the incorrect treatment of capital and revenue expenditure