Accounts 12 G 1

Accounts quiz for grade 12 have fun be careful remember your lessons and good luck.

published on May 03, 2018
1/5

After their new ratio was instituted, a machine was said to be obsolent. How will this be recorded in the reeavualtion account.

Credit
Debit
No record
2/5

The value of an asset increases after a change in the ratio. What will the treatment in the reeavualtion account be?

Debit
Credit
No impact
3/5

After the ratio is changed, the value of an asset decreases. How will it be treated!

Debit
Credit
No answer
4/5

Give the journal entry for the depreciation of machinery.

Depreciation Account Dr
To Revaluation
Revaluation Account Dr
To asset account
No impact
5/5

Give the journal entry for increase in liability.

Liability Account Dr
To Revaluation
Revaluation account Dr
To liability
No impact