Question 8 5 Points The opening balance on the fixed assets (NBV) account was 32,500. During the following period of account, a fixed asset costing 6,000 was acquired and an old fixed asset with an NBV of E2,000 was disposed. The closing balance on the fixed assets NBV account is 33.000. Depreciation for the year, therefore, was: 4,500 B 4,250 13,440 3,500 5 Points Question 9 Closing inventory (ie unsold purchases at the end of an accounting period) is accounted for as a current asset because Profits would be increased if closing inventory were treated as an income and this would be in breach of the prudence principle of accounting B Closing inventory could only be accounted for as an income if it's value was zero or less. of the money measurement (cash basis) principle of accounting, of the matching (accruals) principle of accounting