Question 16
An asset was bought on 1st January, 1995 for N60,000. Depreciation was provided for annually at 20% on cost. It was sold for N21,000 on 30th October 1998. Depreciation is charged fully in the year of disposal. Profit on sale is
Objective
Question details
- Exam body
- WAEC
- Subject
- Accounts - principles of accounts
- Year
- 2002
- Question no.
- #16
- Type
- Objective
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