ACCA Applied Knowledge · Financial Accounting · Tangible non-current assets
Which of the following details is LEAST likely to be held in a non-current asset register?
The amount owed to trade payables for inventory purchases is least likely to be in the asset register. The register holds asset-specific data such as cost, date, location, depreciation and disposal details, whereas inventory payables belong in the payables ledger.
- ADate of purchase and original cost
- BAccumulated depreciation to date
- CPhysical location and identification number
- DAmount owed to trade payables for inventory purchasesCorrect
Explanation
A register records each asset's cost, purchase date, location, depreciation, carrying amount and disposal details. Trade payables for inventory relate to current liabilities and are kept in the payables ledger, not the asset register.
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