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ICPAU ATD Practice Questions - ICPAU Accounting Technicians Diploma ATD Exam

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A business purchased a delivery van for UGX 40,000,000. It is estimated to have a useful life of 5 years and a residual value of UGX 5,000,000. The business uses the reducing balance method of depreciation at a rate of 25% per annum. What is the depreciation charge for the second year?
Correct Answer:
UGX 7,500,000

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