Free account: track your progress — Sign up free

JAMB Accounting 2018 Objective — Question 4

Question 4 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2018 Objective paper, with the correct answer and a full explanation.

If the scrap value is presently #15,000, what will be the yearly depreciation using the straight line method?

A. #4,000Correct
B. #7,000
C. #11,000
D. #24,000

Explanation

Yearly depreciation = (35,000−15,000)/5 = 20,000/5 = 4,000.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2018 Objective More Accounting past papers