QN01. A firm bought a machine for £16,000. It is expected to be used for 5 years then sold for £1,000. What is the annual amount of depreciation if the straight line method is used? £3,750 £3,100 £3,200 £3,000 Answer(D)£3,000 QN02. Working Capital is a term meaning: The total of Fixed Assets – Current Assets…