Post Utme Futa 2018 Accounting Question 29

Practice objective / multiple choice question 29 from the 2018 Post Utme Futa Accounting examination.

Post Utme Futa 2018 Accounting Objective / Multiple Choice
Question 29 POST_UTME_FUTA • 2018 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset's original cost is ₦120,000 and its residual value is ₦20,000, what is the annual depreciation charge if the asset is used for 5 years?

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 Futa 2018 Accounting Question 29. It is one of the objective questions from the 2018 Post Utme Futa Accounting examination.

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