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The balance in the vehicles account was R 1 0 0 0 0 0 0 on 2 9 February 2 0 2 4 , the

The balance in the vehicles account was R1000000 on 29 February 2024, the end of the financial year. The balance in the accumulated depreciation on vehicles account was R300000 on 01 March 2023. Depreciation is calculated at 20% per year using the reducing balance method. Which of the following statements is correct?
A. The carrying value of the vehicles was R 700000 on 29 February 2024.
B. The balance in the accumulated depreciation on vehicles account was R440000 on 29 February 2024.
C. The depreciation for the financial year ended 29 February 2024 amounted to R200000.
D. The depreciation for the financial year ended 29 February 2024 amounted to R60000.
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