A business was commenced on 1st January and it purchased 5 vehicles, each costing $5000. During the year the business managed to sell 2 vehicles at the price of $12000. How should the remaining 3 vehicles be valued if the business is going to continue its operations in the next year

At the breakup value

On the basis of going concern

Liquidation value

More than market value

On the basis of going concern

Financial Accounting Author: rikazzz

A. Cash

B. Goods

C. Debt

D. Investment

A. Noting charges account

B. Interest account

C. Discount account

D. Drawer’s account

A. Account title and description

B. Account title and date

C. Amount

D. Date

A. One part

B. Two parts

C. Three parts

D. Four parts

A. A current Asset

B. A fixed Asset

C. An intangible Asset

D. A wasting Asset

A. Debit Side of an account

B. Credit side of an account

C. Both sides of an account

D. None of the above

A. Trading Account

B. Profit and Loss Account

C. Balance sheet

D. Sales Account

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