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Question of the Week - Financial Reporting and Analysis
A company had equipment worth $50 million on 1 January. During the year, they purchased equipment for $10 million. On 31 December, the equipment account showed $40 million. All figures are shown at cost, before depreciation. The amount of equipment sold during the end of the year, at cost, would be closest to:
Question of the Week - Financial Reporting and Analysis 37 votes