WAEC Accounting 2023 Objective — Question 16
Question 16 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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The value of the asset at end of the first year is
- A. #8,000.Correct
- B. #5,000.
- C. #3,000.
- D. #2,000.
Explanation
Year 1 depreciation = 4/10 × 10,000 = #4,000; Net book value = 12,000 - 4,000 = #8,000.
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