Neco 2025 Financial Accounting Question 46
Practice objective / multiple choice question 46 from the 2025 Neco Financial Accounting examination.
A company purchased equipment for \(\)₦1,200,000. It estimated a useful life of 8 years and an original residual value of \(\)₦120,000. After 3 years the residual value was revised to \(\)₦200,000 and the remaining useful life to 5 years. Assuming straight‑line depreciation, calculate the depreciation expense for year 4 (the first year after the revision).
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About This Question
This is Neco 2025 Financial Accounting Question 46. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Medium .
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