Which of the following is true in public sector accounting? Cost of assets is - SchoolNGR

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Which of the following is true in public sector accounting? Cost of assets is

Which of the following is true in public sector accounting? Cost of assets is

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

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: Option B

Explanation:
In government account, assets are written off in their year of purchase.

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