Neco 2020 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2020 Neco Financial Accounting examination.
A business purchased equipment for ₦500,000 cash on 1\,January. The equipment is depreciated using the straight‑line method over 5\,years with no residual value. What is the carrying amount of the equipment at the end of the first year?
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About This Question
This is Neco 2020 Financial Accounting Question 12. It is one of the objective questions from the 2020 Neco Financial Accounting examination.
Difficulty level: Easy .
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