SPM Accounting (3756) Practice Questions - Sijil Pelajaran Malaysia (SPM) Prinsip Perakaunan Principles Of Accounting (3756) Exam

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Maju Enterprise bought a piece of land for RM35,000 in 2002. In 2005 a valuation showed the market value had risen to RM54,000. Under the Cost Principle (Prinsip Kos), at what value should the land appear in the 2005 financial statements?

RM54,000 RM19,000 RM35,000 RM89,000

Correct Answer:

RM35,000

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