Post Utme Futo 2024 Accounting Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Futo Accounting examination.

Post Utme Futo 2024 Accounting Objective / Multiple Choice
Question 11 POST_UTME_FUTO • 2024 • ACCOUNTING • objective

A company purchases 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 straight-line method.

Answer Options

A. ₦90,000
Correct Answer B. ₦80,000
C. ₦70,000
D. ₦60,000
Correct Answer
B
Correct Option:
₦80,000

About This Question

This is Post Utme Futo 2024 Accounting Question 11. It is one of the objective questions from the 2024 Post Utme Futo Accounting examination.

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