A Non-Current Asset Has the Following Information Available for Valuation

question 32

Multiple Choice

A non-current asset has the following information available for valuation at balance date: Depreciable Amount $50,000
Accumulated depreciation $10,000
Residual value $5,000
Recoverable amount $35,000
Value in use $80,000
Which amount should be the carrying amount of this asset at balance date?

• A) $5,000
• B) $35,000
• C) $40,000
• D) $80,000
• E) E: None of the given answers

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Definitions:

Literal

A fixed value in source code that represents a number, character, or string, typed directly into the code.

Constant

A value that cannot be altered by the program during normal execution, providing a read-only data type.

Escape Sequence

A series of characters in a string that represents a special character, typically preceded by a backslash (\), used to perform operations like newline or tab.

Ampersand

A symbol (&) used in programming languages for various purposes, such as referring to the address of a variable in C or concatenating strings in other languages.