15. A fixed asset was acquired on 1 December 1991 at a cost of R12 000. If depreciation is provided at 20% per year, the difference in book value at 28 February 1993 between the fixed instalment method and the reducing balance method would be equal to: (a) R600 (b) R120 (c) zero (d) none of the above For questions 16 to 18: A motor vehicle was bought on 1 December 1991 at a cost of R24 000. Depreciation is provided at 20% per year on the fixed-instalment method. The motor vehicle is sold on 31 August 1993 for R18 000. 16. The accumulated depreciation on the motor vehicle at the time of sale equals: (a) R6 000 (b) R4 800 () R8 400 (d) none of the above 17. The book value of the motor vehicle at the time of sale equals: (a) R18 000 (b) R16 000 (c) R19 600 (d) R15 600 (e) none of the above 18. The profit or loss on the sale of the motor vehicle equals: zero (b) R1 600 profit (c) R2 400 loss (d) R2 000 profit (e) none of the above 19. The owner's equity of a business is 60% of its assets. If the owner's equity amounts to R120 000, the liabilities amount to: (a) R40 000 (b) R20 000 (c) R100 000 (d) R80 000 (e) none of the above