Multiple Choice
O'Brien's Construction Plc exchanged equipment that had a book value of £40 000 for a truck that had a book value (in the other entity's books) of £38 000.The fair value of the equipment is £45 000 and the fair value of the truck is £48 000.Further cost incurred to prepare the truck for use by O'Briens was £700 for signage.What is the acquisition cost of the truck?
A) £48 700
B) £40 000
C) £48 000
D) £45 700
Correct Answer:
Verified
Correct Answer:
Verified
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