JAMB Accounting 2014 Objective — Question 16
Question 16 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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The formula for calculating depreciation using the straight line method is
- A. (Scrap value + Sales)/Useful life
- B. (Cost − Scrap value)/Useful lifeCorrect
- C. (Sales − Scrap value)/Useful life
- D. (Purchases+Sales)/Useful life
Explanation
Depreciation = (Cost − Scrap value)/Useful life.
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