Question on: WAEC Accounting - 1997
Use the following information to answer this question
An asset was bought on 1st January, 1992 for N20,000. Depreciation was provided for annually at 20% on cost. It was sold for N7,000 on 1st July, 1995.
The net book value at the time of sale was
A
N16,000
B
N14,000
C
N12,000
D
N8,000
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Correct Option: E
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