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Subjects · Leaving Cert Accounting

Leaving Cert Accounting: Fixed asset disposal

How often Fixed asset disposal comes up on the Accounting papers, every year it was asked, and questions to try.

HL Asked on 7 of the last 10 Higher Level papers, most recently in 2025. most years

OL Asked on 4 of the last 10 Ordinary Level papers, most recently in 2023.

Fixed asset disposal, Higher Level(6 marks)

Quick ones on Fixed asset disposal.

(a)A profit on disposal arises when sale proceeds exceed the asset's…
  1. Original cost
  2. Net book value
  3. Accumulated depreciation
(b)Asset with NBV €4,000 sold for €5,000. Result?
  1. Profit of €5,000
  2. Loss of €1,000
  3. Profit of €1,000
(c)Cost €12,000; accumulated depreciation €9,000; sold for €2,000. Result?
  1. Loss of €1,000
  2. Loss of €3,000
  3. Profit of €2,000
Show the answers

(a) Net book value

(b) Profit of €1,000

(c) Loss of €1,000

Your turn: Higher Level questions on Fixed asset disposal.

Higher Level

Asked on 7 of the last 10 Higher Level papers, most recently in 2025. most years

Every paper, year by year

YearWhere it came up
2026Not asked
2025Q3
2024Q4
2023Not asked
2022Q4
2021Q3
2019Q3
2018Q2
2017Q3
2016Not asked

Links open the State Examinations Commission’s paper for that year.

Ordinary Level

Asked on 4 of the last 10 Ordinary Level papers, most recently in 2023.

Every paper, year by year

YearWhere it came up
2026Not asked
2025Not asked
2024Not asked
2023Q3
2022Not asked
2021Q4
2019Q3
2018Not asked
2017Q2
2016Not asked

Links open the State Examinations Commission’s paper for that year.

More Fixed asset disposal questions

Fixed asset disposal, 2 marks

When an asset is sold, the accumulated depreciation on it goes to the…

  1. Debit of the disposal account
  2. Credit of the bank account
  3. Credit of the disposal account
Show the answer

Credit of the disposal account

Dr Provision for depreciation, Cr Disposal. This removes the depreciation on the asset sold.

Fixed asset disposal, 2 marks

A loss on the sale of a fixed asset is shown in the profit and loss account as…

  1. An addition to sales
  2. An expense
  3. A gain
Show the answer

An expense

Selling for less than net book value is a loss, so it is an expense that reduces net profit.

Fixed asset disposal, 3 marks

Machine cost €15,000; accumulated depreciation €9,000; sold for €7,500. Result?

  1. Profit of €1,500
  2. Loss of €1,500
  3. Profit of €7,500
Show the answer

Profit of €1,500

NBV = €15,000 − €9,000 = €6,000. Sold for €7,500, which is €1,500 more, so a profit of €1,500.

Other Accounting topics

All of Leaving Cert Accounting