Post Utme Bells University 2023 Accounting Question 27

Practice objective / multiple choice question 27 from the 2023 Post Utme Bells University Accounting examination.

Post Utme Bells University 2023 Accounting Objective / Multiple Choice
Question 27 POST_UTME_BELLS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the straight-line method of depreciation for its assets. If an asset with a cost of ₦1,500,000 has a residual value of ₦300,000 and a useful life of 5 years, what is the annual depreciation charge?

Answer Options

A. ₦240,000
B. ₦300,000
Correct Answer C. ₦360,000
D. ₦420,000
Correct Answer
C
Correct Option:
₦360,000

About This Question

This is Post Utme Bells University 2023 Accounting Question 27. It is one of the objective questions from the 2023 Post Utme Bells University Accounting examination.

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