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Accounts - Principles of Accounts Past Questions

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2091
Which of the following may cause depreciation? i. wear and tear ii. obsolescence and passage of time iii. fluctuation
  • A. i, ii and iii
  • B. i and ii
  • C. i and iii
  • D. ii and iii
  • E. iii
View Answer & Discuss WAEC 1989
2092
A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. Using the straight line method, the annual depreciation is
  • A. N3,100
  • B. N3,000
  • C. N2,900
  • D. N2,300
  • E. N2,000
View Answer & Discuss WAEC 1989
2093
A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400.Using the reducing balance method what will be the depreciation charge for year 2 at 20%? (ignoring residual value)
  • A. N3,000
  • B. N2,900
  • C. N2,400
  • D. N1,920
  • E. N1,536
View Answer & Discuss WAEC 1989
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
2094
A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. Using the reducing balance method, what us the net book value at the end of the year 2? (ignoring residual value)
  • A. N10,480
  • B. N10,080
  • C. N9,680
  • D. N9,600
  • E. N7,680
View Answer & Discuss WAEC 1989
2095
A machine cost N12,000 and has a useful life of 4 years and an expected disposal value of N400. The accumulated depreciation at the end of the year 3 using the straight line method is
  • A. N9,300
  • B. N9,000
  • C. N8,700
  • D. N6,900
  • E. N6,000
View Answer & Discuss WAEC 1989
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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