Post Utme Christopher University 2024 Accounting Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2024 Accounting Objective / Multiple Choice
Question 31 POST_UTME_CHRISTOPHER_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and the 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 Christopher University 2024 Accounting Question 31. It is one of the objective questions from the 2024 Post Utme Christopher University Accounting examination.

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