A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. Using the straight line method, what is the amount of depreciation charged per annum?

By: |Published on: Jun 6|Categories: Accounting WAEC| 0 comments

A. N9,000
B. N5,500
C. N4,000
D. N3,500

Correct Answer: Option D

D. N3,500

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