Multiple Choice
On 31 December 2018 a new motor vehicle with a life of five years and no estimated residual value was purchased by a business at a cost of $48 000, net of GST. The diminishing-balance depreciation method is used at a rate of 20% p.a. What is the carrying value of the motor vehicle at 31 December 2020 after charging depreciation for that year?
A) $7 680
B) $9 600
C) $30 720
D) $38 400
Correct Answer:
Verified
Correct Answer:
Verified
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