Motor car costing N10,000 was depreciated at 20 per cent ...
Motor car costing N10,000 was depreciated at 20 per cent anuum by the diminishing balance method. Two years late, it was sold for N6,000. The net result of the sale was
N6,400 profit
N6,000 loss
N4,000 loss
N400 profit
N400 loss
Correct answer is E
No explanation has been provided for this answer.
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