Question on: WAEC Accounting - 2000
A motor vehicle bought for N16,000 was estimated to have a useful life span of 4 years and a scrap of N2,000. What is the net book value of the motor vehicle at the end of the third year, using the straight line method?
A
N9,000
B
N5,500
C
N3,500
D
N2,000
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Correct Option: B
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