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SingaporeAccountingQuick questions
Accounting for Assets and Liabilities
Quick questions on Property, plant and equipment explained: H2 Principles of Accounting
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Classify each as capital or revenue: legal fees to buy land, annual building insurance, a new wing added to a factory, replacing a broken window. [2 marks]
What is q2?Show answer
A machine has list price \60\,000\ delivery and \5\,000$ for the first year's servicing. State the capitalised cost. [2 marks]
What is q3?Show answer
Explain why wrongly capitalising a repair overstates profit. [3 marks]
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