JAMB Accounting 2008 Objective — Question 19

Question 19 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

The factors that determine the periodic depreciation charge are

A. asset cost, market value and useful life
B. asset cost, market value and residual value
C. asset cost, market value and useful life
D. asset cost, salvage and useful lifeCorrect

Explanation

Depreciation = (Cost - residual value)/life span. Residual value = salvage value. Life span = useful life. The three determines the depreciation of an asset.

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