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WAEC Financial Accounting 2025 Question 3

Question 3

Depreciation

Depletion method of depreciation is applicable to

  1. A.quarries.
  2. B.plant and machinery.
  3. C.livestock.
  4. D.office equipment.
Show the answer and explanation

Answer: A (quarries.)

Explanation

Depletion charges depreciation by the quantity of a wasting asset used up, as with quarries and mines.