WAEC Agricultural Science 2023 Question 46

Question 46

Farm Management and Records

Study the table below.
Cost price N20,000; useful life Y years; salvage value N5,000; annual depreciation N1,000/annum; total depreciation N15,000
Cost price N60,000; useful life 10 years; salvage value N18,000; annual depreciation N4,200/annum; total depreciation Z
The useful life represented by Y in the illustrated table is

  1. A.3 years.
  2. B.4 years.
  3. C.15 years.
  4. D.20 years.
Show the answer and explanation

Answer: C (15 years.)

Explanation

(20,000 − 5,000) ÷ 1,000 = 15 years.