Multiple Choice
Oscar's business invests in a new lorry on 13 September20X3 at a cost of £42 350.On the same date he disposes of the old lorry for £4000.The estimated useful life of the new lorry is five years, with an expected residual value of £6500.Oscar charges a full year's depreciation in the year of acquisition and none in the year of disposal. What is Oscar's depreciation charge in respect of the lorry for the financial year ended 31 January 20X4?
A) £6370
B) £8970
C) £7170
D) £2390
Correct Answer:
Verified
Correct Answer:
Verified
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