Post Utme Elizade University 2020 Accounting Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2020 Accounting Objective / Multiple Choice
Question 2 POST_UTME_ELIZADE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. The cost of a machine is ₦500,000 and its residual value is ₦50,000. If the machine is expected to last for 5 years, what is the annual depreciation charge?

Answer Options

Correct Answer A. ₦80,000
B. ₦90,000
C. ₦100,000
D. ₦110,000
Correct Answer
A
Correct Option:
₦80,000

About This Question

This is Post Utme Elizade University 2020 Accounting Question 2. It is one of the objective questions from the 2020 Post Utme Elizade University Accounting examination.

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