Watch the video lesson below and answer the questions that follows. (Post your answer into the comment box below this post) NOTE: The correction will be posted soon.
Depreciation Video Lesson
Redox Reaction JAMB Past Question Practice
Attempt the Questions below. Post your answer into the comment box, the correction will be posted soon.
1. The factor that determine the periodic depreciation charge are?
- A. asset cost, market value and useful life
- B. asset cost, market value and residusl value
- C. asset value, cash value useful life
- D. asset cost, salvage and useful life
2. A machine bought for #35,000 was estimated to have a life span of 5 years with a scrap value of #9,000.
If the scrap value is presently #15,000 what will be the yearly depreciation using straight line method?
- A. #4,000
- B. #7,000
- C. #11,000
- D. #24,000
3. The documents that provide instant information to firms on their tranactions with banks are
- A. bank statement and debit note
- B. cheque book and cashbook
- C. cheque stub and deposit slip
- D. payslip and credit invoice