Gce Model Questions Vol1 2022 Financial Accounting Question 8
Practice objective / multiple choice question 8 from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
An equipment costing \(\text{₦}200,000\) with a residual value of \(\text{₦}20,000\) is to be depreciated over 5 years. The company uses straight‑line depreciation for the first two years and then switches to the reducing‑balance method at \(40\%\) per annum on the remaining book value. What is the book value at the end of year \(4\)?
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About This Question
This is Gce Model Questions Vol1 2022 Financial Accounting Question 8. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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