Use the following information to answer this question. Cost of assets (01/01/18) ₦ 600,000. Annual depreciation...

Use the following information to answer this question. Cost of assets (01/01/18) ₦ 600,000. Annual depreciation...

WAEC 2021

Use the following information to answer this question.
Cost of assets (01/01/18) ₦ 600,000. Annual depreciation charge is 15% on reducing balance basis.

The net book value of the asset at 31/12/19 is

A. ₦523,500
B. ₦510,000
C. ₦433,500
D. ₦420,000

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Correct Answer: Option C

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