VIP Exclusive
SOCPA Saudi Professional Accountant VIP Exam
SOCPA — The SOCPA (Saudi Organization for Chartered and Professional Accountants) Professional Accountant certification is issued by SOCPA in Saudi Arabia and covers Financial Accounting (IFRS as adopted), Auditing & Assurance, Zakat & Tax, Management Accounting, Business Law, and Professional Ethics; each module is assessed separately and a minimum 70% pass mark applies.
55
Questions
180m
Time Limit
70.00%
To Pass
Question 1 of 55👑 VIP
Al-Noor Trading Company purchased a building on 1 January 2023 for SAR 5,000,000. The building has a useful life of 25 years and a residual value of SAR 500,000. The company uses the straight-line depreciation method. On 1 July 2024, the company revalued the building to SAR 5,200,000. What is the carrying amount of the building immediately before the revaluation on 1 July 2024?
Questions 2–55 and full explanations are VIP-exclusive.