NABTEB Accounting 2023 Objective — Question 16

Question 16 of 50 from the National Business and Technical Examinations Board (NABTEB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Using the same machinery information, the value of the asset at the end of the first year is (a) #8,000 (b) #5,800 (c) #3,000 (d) #2,000

A. #8,000Correct
B. #5,800
C. #3,000
D. #2,000

Explanation

Year 1 depreciation = 4/10 x 10,000 = #4,000. Net book value = 12,000 - 4,000 = #8,000.

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