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Provision for depreciation on delivery van is charged to

Accounts - Principles of Accounts
JAMB 2025

Provision for depreciation on delivery van is charged to

  • A. manufacturing account
  • B. trading account
  • C. profit and loss account
  • D. appropriation account
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Correct Answer: Option C
Explanation

Provision for depreciation on a delivery van is charged to the Profit and Loss Account. Depreciation is the reduction in value of an asset due to wear and tear or obsolescence, and it is treated as an expense when calculating net profit or loss.

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free