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WAEC Agriculture 2022 Paper

Question : 46

Total: 47

Solution:

Concept:

Annual depreciation is the yearly reduction in the value of an asset, found using its cost, salvage value, and useful life.

Explanation:

From the farm record, the asset cost is ₦500.00.

The salvage value is ₦50.00.

The useful life is 10 years.

Annual depreciation is computed as:

\text{Annual depreciation} = \frac{\text{cost} - \text{salvage value}}{\text{useful life}}

= \frac{500 - 50}{10}

= \frac{450}{10}

= 45.00

Answer:

B. ₦45.00

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