Post Utme Abu 2024 Accounting Question 17

Practice objective / multiple choice question 17 from the 2024 Post Utme Abu Accounting examination.

Post Utme Abu 2024 Accounting Objective / Multiple Choice
Question 17 POST_UTME_ABU • 2024 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. A machine was purchased for ₦500,000 and has a residual value of ₦50,000. Calculate the annual depreciation charge for the machine.

Answer Options

A. ₦20,000
Correct Answer B. ₦22,500
C. ₦25,000
D. ₦30,000
Correct Answer
B
Correct Option:
₦22,500

About This Question

This is Post Utme Abu 2024 Accounting Question 17. It is one of the objective questions from the 2024 Post Utme Abu Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support