Accounting 9706 · AS & A Level · Accounting for non-current assets

Accounting for non-current assets — practice question

A trader uses the revaluation method to depreciate loose tools. At the end of the year, which account is credited to record depreciation on loose tools?

  • Adepreciation of loose tools
  • Bdisposal
  • Cloose tools
  • Dprovision for depreciation of loose tools

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