Post Utme Futo 2020 Accounting Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Futo Accounting examination.

Post Utme Futo 2020 Accounting Objective / Multiple Choice
Question 31 POST_UTME_FUTO • 2020 • ACCOUNTING • objective

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

Answer Options

Correct Answer A. ₦24,000
B. ₦20,000
C. ₦30,000
D. ₦18,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Futo 2020 Accounting Question 31. It is one of the objective questions from the 2020 Post Utme Futo Accounting examination.

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