Multiple Choice
On 31 December 2017, a new motor vehicle with a useful life of five years and an estimated residual value of $5,000 was purchased by a business at a cost of $35,000. The amount of depreciation expense charged for the six months ended 30 June 2018, using the straight-line method, is:
A) nil.
B) $3,000.
C) $25,000.
D) $4,000.
Correct Answer:
Verified
Correct Answer:
Verified
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