WAEC Accounting 2021 Objective — Question 8
Question 8 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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Reducing balance method charges depreciation as fixed percentage of the
- A. net book value of assetCorrect
- B. cost of asset
- C. market value of asset
- D. accumulated depreciation of asset
Explanation
Under the reducing balance method, depreciation is charged as a fixed percentage of the asset's net book value each year.
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