Waec Model Questions Vol1 2021 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
A machine was purchased on 1 January 2021 for ₦500,000. Its estimated residual value is ₦50,000 and its useful life is 5 years. The company depreciates the asset using the double‑declining‑balance method for the first two years and then switches to the straight‑line method for the remaining years. What is the book value of the machine at the end of year 3?
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 12. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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