Post Utme Al Hikmah University 2024 Accounting Question 23

Practice objective / multiple choice question 23 from the 2024 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2024 Accounting Objective / Multiple Choice
Question 23 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset's useful life is 5 years and its residual value is ₦50,000, what is the annual depreciation charge if the asset's cost is ₦250,000?

Answer Options

A. ₦40,000
Correct Answer B. ₦45,000
C. ₦50,000
D. ₦55,000
Correct Answer
B
Correct Option:
₦45,000

About This Question

This is Post Utme Al Hikmah University 2024 Accounting Question 23. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Accounting examination.

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