Post Utme Futa 2020 Accounting Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Futa Accounting examination.

Post Utme Futa 2020 Accounting Objective / Multiple Choice
Question 24 POST_UTME_FUTA • 2020 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset's useful life is 5 years and the residual value is ₦10,000, what is the annual depreciation charge if the asset's cost is ₦150,000?

Answer Options

A. ₦25,000
Correct Answer B. ₦30,000
C. ₦35,000
D. ₦40,000
Correct Answer
B
Correct Option:
₦30,000

About This Question

This is Post Utme Futa 2020 Accounting Question 24. It is one of the objective questions from the 2020 Post Utme Futa Accounting examination.

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