Post Utme Eksu 2023 Accounting Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Eksu Accounting examination.

Post Utme Eksu 2023 Accounting Objective / Multiple Choice
Question 3 POST_UTME_EKSU • 2023 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. The straight-line method assumes that the asset will lose its value at a constant rate over its useful life. Which of the following is a characteristic of the straight-line method?

Answer Options

A. It assumes that the asset will lose its value at a decreasing rate over its useful life
Correct Answer B. It assumes that the asset will lose its value at a constant rate over its useful life
C. It assumes that the asset will lose its value at an increasing rate over its useful life
D. It assumes that the asset will retain its value over its useful life
Correct Answer
B
Correct Option:
It assumes that the asset will lose its value at a constant rate over its useful life

About This Question

This is Post Utme Eksu 2023 Accounting Question 3. It is one of the objective questions from the 2023 Post Utme Eksu Accounting examination.

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