Question 31
A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. If the vehicle is sold for N6,000 at the end of third year, what is the profit or loss on sale?
Objective
Question details
- Exam body
- WAEC
- Subject
- Accounts - principles of accounts
- Year
- 2000
- Question no.
- #31
- Type
- Objective
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