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WASSCE
Use the following information to answer this question.
A motor car costing D100,000 was depreciated at 2% per annum by the diminishing balance method. Two years later, it was sold for D60,000
The net profit or loss on the sales was
A.
D 40,000 profit
B.
D 4,000 profit
C.
D 4,000 loss
D.
D 40,000 loss
Answer: C
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