Post Utme Futo 2018 Accounting Question 38

Practice objective / multiple choice question 38 from the 2018 Post Utme Futo Accounting examination.

Post Utme Futo 2018 Accounting Objective / Multiple Choice
Question 38 POST_UTME_FUTO • 2018 • ACCOUNTING • objective

A company's balance sheet shows a fixed asset of ₦500,000. However, the asset has depreciated by 20% over the year. What is the correct value of the asset on the balance sheet?

Answer Options

Correct Answer A. ₦400,000
B. ₦450,000
C. ₦500,000
D. ₦550,000
Correct Answer
A
Correct Option:
₦400,000

About This Question

This is Post Utme Futo 2018 Accounting Question 38. It is one of the objective questions from the 2018 Post Utme Futo Accounting examination.

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