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Long-Lived Superannuation Plan Provides the Following Information Regarding Its Assets

Question 68

Multiple Choice

Long-lived Superannuation Plan provides the following information regarding its assets and receipts for the year ended 30 June 2014: Long-lived Superannuation Plan provides the following information regarding its assets and receipts for the year ended 30 June 2014: During the period,land acquired before 30 June 2013 was sold.The land had a cost of $1 million,a market value at 30 June 2013 of $2 million,and was sold for $2.8 million.What is the revenue of the superannuation plan for the period in accordance with AAS 25? A) $3 700 000 B) $3 678 000 C) $2 676 500 D) $1 678 000 During the period,land acquired before 30 June 2013 was sold.The land had a cost of $1 million,a market value at 30 June 2013 of $2 million,and was sold for $2.8 million.What is the revenue of the superannuation plan for the period in accordance with AAS 25?


A) $3 700 000
B) $3 678 000
C) $2 676 500
D) $1 678 000

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