CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 86 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam

Question #: 86
Topic #: 1

[All CIMAPRA17-BA3-1 Questions]

Mr UY has just had property P re-valued. Mr UY originally purchased property P for 560,000. It is now worth 780,000.

Which ONE of the following shows how this transaction should be recorded in Mr UY's property account?

A220,000 credit

B220,000 debit

C780,000 debit

D780,000 credit

Show Suggested Answer

Suggested Answer: A

by Tamala at May 02, 2024, 03:53 PM

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19 days ago

But wouldn't the increase in property value be recorded as a credit in the account?

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23 days ago

I disagree, I believe the correct answer is D) 780,000 credit.

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25 days ago

I think the answer is B) 220,000 debit.

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