Post Utme Futa 2024 Accounting Question 20

Practice objective / multiple choice question 20 from the 2024 Post Utme Futa Accounting examination.

Post Utme Futa 2024 Accounting Objective / Multiple Choice
Question 20 POST_UTME_FUTA • 2024 • ACCOUNTING • objective

A company purchased a machine for ₦500,000. The machine has a useful life of 5 years and a residual value of ₦50,000. Calculate the annual depreciation using the reducing balance method.

Answer Options

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

About This Question

This is Post Utme Futa 2024 Accounting Question 20. It is one of the objective questions from the 2024 Post Utme Futa Accounting examination.

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