Post Utme Futa 2024 Accounting Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Futa Accounting examination.

Post Utme Futa 2024 Accounting Objective / Multiple Choice
Question 26 POST_UTME_FUTA • 2024 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and the residual value is ₦0, what is the annual depreciation charge if the asset's cost is ₦120,000?

Answer Options

Correct Answer A. ₦24,000
B. ₦20,000
C. ₦30,000
D. ₦25,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Futa 2024 Accounting Question 26. It is one of the objective questions from the 2024 Post Utme Futa Accounting examination.

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