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WAEC Financial Accounting 2015 Question 21

Question 21

Depreciation

Which of the following is not a method of depreciating fixed assets?

  1. A.Revaluation.
  2. B.Straight line.
  3. C.Diminishing balance.
  4. D.Obsolescence.
Show the answer and explanation

Answer: D (Obsolescence.)

Explanation

Obsolescence is a cause of depreciation, not a method of calculating it.