Which of the following is true in public sector accounting? Cost of assets is
FINANCIAL
JAMB 2015
Which of the following is true in public sector accounting? Cost of assets is
- A. depreciated on straight line method
- B. expensed in the year of purchase
- C. charged to federation account
- D. depreciated on reducing balance method
Correct Answer: B. expensed in the year of purchase
Explanation
In government account, assets are written off in their year of purchase
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *