Post Utme Aaua 2020 Accounting Question 11

Practice objective / multiple choice question 11 from the 2020 Post Utme Aaua Accounting examination.

Post Utme Aaua 2020 Accounting Objective / Multiple Choice
Question 11 POST_UTME_AAUA • 2020 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset cost ₦120,000, has a residual value of ₦20,000, and is expected to last for 5 years, what is the annual depreciation charge?

Answer Options

A. ₦20,000
Correct Answer B. ₦22,000
C. ₦24,000
D. ₦26,000
Correct Answer
B
Correct Option:
₦22,000

About This Question

This is Post Utme Aaua 2020 Accounting Question 11. It is one of the objective questions from the 2020 Post Utme Aaua Accounting examination.

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