Evaluate what is the annual amount of depreciation

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Reference no: EM132769206

Problem 1: Depreciation is:

(A) The amount spent to buy a non-current asset
(B) The salvage value of a non-current asset
(C) The part of the cost of the non-current asset consumed during its period of use by the firm
(D) The amount of money spent replacing non-current assets

Problem 2: A firm bought a machine for £16,000. It is expected to be used for five years then sold for £1,000. What is the annual amount of depreciation if the straight line method is used?

(A) £3,200
(B) £3,100
(C) £3,750
(D) £3,000

Reference no: EM132769206

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