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Question 1
Which of the following expenditures incurred by a business should be classified as capital expenditure rather than revenue expenditure?
Correct Answer:
Cost of purchasing and installing a new industrial assembly line machine
Question 2
Apex Ltd purchased a manufacturing machine for $120,000 cash. Additional costs incurred were: freight charges $4,000, installation costs $6,000, initial testing costs $2,000, annual maintenance contract $3,000, and fire insurance for the first year $1,500. What is the initial cost of the machine recorded in the non-current asset ledger?
Correct Answer:
$$130,000
Question 3
Brisbane Enterprises purchased equipment for $50,000 on 1 July 2024. The equipment has an estimated useful life of 5 years and an estimated residual value of $5,000. Using the straight-line method, what is the annual depreciation expense?
Correct Answer:
$$9,000
Question 4
Coastal Logistics acquired a delivery van for $40,000 on 1 July 2024. The business uses the diminishing balance method of depreciation at a rate of 20% per annum. What is the depreciation expense for the second year ending 30 June 2026?
Correct Answer:
$$6,400
Question 5
Darling Downs Printing bought a commercial printing press for $180,000 with a residual value of $20,000. The press is expected to print 800,000 pages during its operational life. If the machine prints 120,000 pages during the financial year, what is the depreciation charge using the units of use method?
Correct Answer:
$$24,000
Question 1
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About this Exam

Prepare with the QCAA Accounting Practice Questions - QCAA Senior Accounting Exam (Units 3 & 4) Exam practice quiz. This question bank includes 100 questions covering cash, june, depreciation, year, and balance. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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QCAA Accounting Practice Questions - QCAA Senior Accounting Exam (Units 3 & 4) Exam

This practice set contains 100 questions from the matching question bank and focuses on cash, june, depreciation, year, and balance. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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