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. The net book value at the time of sale was

A. N39,000
B. N16,000
C. N14,000
D. N12,000

Correct Answer: Option D

D. N12,000

Health Team Original price was: ₦1,000.00.Current price is: ₦300.00.
Factors Affecting Health in Nigeria Original price was: ₦1,000.00.Current price is: ₦300.00.
Primary Health Care Principles Original price was: ₦1,000.00.Current price is: ₦300.00.
Nigeria Healthcare Tiers Original price was: ₦1,000.00.Current price is: ₦300.00.
Primary Health Care - Health According To WHO - Referral System Original price was: ₦1,000.00.Current price is: ₦300.00.

Earn Your Degree In 3 Years Without Writing UTME. Click Here To Learn More.