Question on: JAMB Accounting - 2014
The formula for calculating depreciation using straight line method is
A
\( \frac{\text{Scrape Value} + \text{Sales}}{Useful life} \)
B
\( \frac{\text{Cost } - \text{Scrape Value}}{Useful life} \)
C
\( \frac{\text{Sales } - \text{Scrape Value}}{Useful life} \)
D
\( \frac{\text{Purchases } + \text{Sales }}{Useful life} \)
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Correct Option: B
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