What this practice covers
These questions are drawn from past CIE 9706 Accounting papers and filtered to disposal and revaluation. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
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What examiners see students get wrong here
These are the errors that cost marks on disposal and revaluation, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Forgetting to transfer the accumulated depreciation to the disposal account.
- Comparing proceeds with cost instead of with carrying amount.
- Capitalising only the cash paid in a part exchange.
- Taking a revaluation surplus to the income statement.
- Paying a dividend out of the revaluation reserve.
- Continuing to depreciate on the old cost after a revaluation.
- Saying a profit on disposal means the asset was sold well, without explaining that it means depreciation was overcharged.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: Disposal and revaluation revision notes.