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WAEC Financial Accounting 2025 Question 6

Question 6

Depreciation

When there is provision for depreciation, fixed assets is shown in the balance sheet at

  1. A.appraised value
  2. B.net book value
  3. C.appreciated value
  4. D.cost value
Show the answer and explanation

Answer: B (net book value)

Explanation

The asset is shown at cost less accumulated depreciation, its net book value.