Post Utme Ims U 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Ims U Accounting examination.

Post Utme Ims U 2021 Accounting Objective / Multiple Choice
Question 21 POST_UTME_IMS_U • 2021 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and its residual value is ₦50,000, what is the annual depreciation charge if the asset's cost is ₦300,000?

Answer Options

A. ₦50,000
B. ₦60,000
Correct Answer C. ₦62,500
D. ₦65,000
Correct Answer
C
Correct Option:
₦62,500

About This Question

This is Post Utme Ims U 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Ims U Accounting examination.

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