Post Utme Elizade University 2017 Accounting Question 22

Practice objective / multiple choice question 22 from the 2017 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2017 Accounting Objective / Multiple Choice
Question 22 POST_UTME_ELIZADE_UNIVERSITY • 2017 • ACCOUNTING • objective

A company purchases a machine for ₦120,000 and depreciates it using the straight-line method over a useful life of 5 years. If the machine is expected to have a residual value of ₦20,000, what is the annual depreciation charge?

Answer Options

A. ₦20,000
B. ₦22,000
Correct Answer C. ₦24,000
D. ₦26,000
Correct Answer
C
Correct Option:
₦24,000

About This Question

This is Post Utme Elizade University 2017 Accounting Question 22. It is one of the objective questions from the 2017 Post Utme Elizade University Accounting examination.

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