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.
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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.
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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