A fixed asset was bought for N60,000 on 1st January, 1997...
A fixed asset was bought for N60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was bought for N16,000 on 30th June, 2001. The net book value at the time of sale was
N33,000
N30,000
N17,000
N16,000
Correct answer is A
No explanation has been provided for this answer.
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