Post Utme Futo 2024 Accounting Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Futo Accounting examination.

Post Utme Futo 2024 Accounting Objective / Multiple Choice
Question 29 POST_UTME_FUTO • 2024 • ACCOUNTING • objective

A company's assets are depreciated using the straight-line method. What is the formula for calculating depreciation?

Answer Options

Correct Answer A. Depreciation = (Cost - Residual Value) / Useful Life
B. Depreciation = (Cost - Residual Value) / (Useful Life - Residual Value)
C. Depreciation = (Cost - Residual Value) / (Useful Life + Residual Value)
D. Depreciation = (Cost + Residual Value) / Useful Life
Correct Answer
A
Correct Option:
Depreciation = (Cost - Residual Value) / Useful Life

About This Question

This is Post Utme Futo 2024 Accounting Question 29. It is one of the objective questions from the 2024 Post Utme Futo Accounting examination.

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