CIMA BA3 Question Answer
A non-current asset was purchased for £240000 at the beginning of Year 1, with an expected life of 7 years and a residual value of £50000. It was depreciated by 20% per annum using the reducing balance method.
At the beginning of Year 4 it was sold for £100000. The result of this was:
CIMA BA3 Summary
- Vendor: CIMA
- Product: BA3
- Update on: Jul 29, 2025
- Questions: 393
