Post Utme Greenfield University 2023 Accounting Question 10

Practice objective / multiple choice question 10 from the 2023 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2023 Accounting Objective / Multiple Choice
Question 10 POST_UTME_GREENFIELD_UNIVERSITY • 2023 • ACCOUNTING • objective

A company purchases a machine for ₦150,000 and depreciates it using the straight-line method over a useful life of 5 years. If the machine is sold for ₦90,000 after 3 years, what is the gain or loss on sale?

Answer Options

Correct Answer A. ₦30,000 loss
B. ₦30,000 gain
C. ₦15,000 loss
D. ₦15,000 gain
Correct Answer
A
Correct Option:
₦30,000 loss

About This Question

This is Post Utme Greenfield University 2023 Accounting Question 10. It is one of the objective questions from the 2023 Post Utme Greenfield University Accounting examination.

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