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ACCA VIP Practice Certification Exam

ACCA — Mirrors the ACCA (Association of Chartered Certified Accountants, UK) qualification exams, which are computer-based papers across Applied Knowledge, Applied Skills and Strategic Professional levels, each with a 50% pass mark and typically 2–3 hour durations; this set focuses on the most commonly tested core areas: financial accounting, financial reporting, management accounting, audit, financial management, law, tax principles and ethics.

28
Questions
120m
Time Limit
50.00%
To Pass
Question 1 of 28👑 VIP

A machine was purchased for $80,000 with an estimated residual value of $8,000 and a useful life of 8 years, depreciated on a straight-line basis. At the start of Year 4, management revises the remaining useful life to 3 years and the residual value to $5,000. What is the depreciation charge for Year 4?

Questions 2–28 and full explanations are VIP-exclusive.