The rate of the yearly depreciation expense would be?

By: |Published on: Dec 5|Categories: Accounting JAMB| 0 comments

Use the information below to answer questions .

On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of N1000.

A. 50%
B. 40%
C. 30%
D. 20%

Correct Answer:

Option D – 20%

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