Motor Vehicles Are Shown in the Statement of Financial Position

question 57

Multiple Choice

Motor vehicles are shown in the statement of financial position of Yong Ltd as: $\begin{array}{lll}& 2017 & 2018 \\\text { Motor Vehicles at Cost } & \$ 83,000 & \$ 95,000 \\\text { Less Accumulated Depreciation } & \$ 10,000 & \$ 15,000 \\\text { Carrying Value }& \$ 73,000 & \$ 80,000\end{array}$ Assuming that no vehicles were sold, the value of vehicles purchased during 2015 was:

• A)$7 000
• B)$12 000
• C)$5 000
• D)$17 000

---

Definitions:

Grand

A term that can signify something of great importance, size, or rank.

Middle Range

Pertaining to theories or concepts that fall between grand theories and discrete observations, providing a manageable framework for study and analysis.

Theories

Systematic ideas or principles formulated to explain phenomena, guide research and practice in various fields.

Scope and Breadth

The range or extent of coverage, influence, or action of a particular subject or activity.