Accounts (Principles of Accounts)Depreciation of non-current assetsJAMB
A machine bought for ₦900,000 is depreciated at 10% a year on cost with no residual value. What is its carrying value after 3 years?
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Answer: C. ₦630,000
3 × 90,000 = 270,000; 900,000 − 270,000 = ₦630,000.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.