Post Utme Ims U 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Ims U Accounting examination.

Post Utme Ims U 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_IMS_U • 2022 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset's useful life is 5 years and the residual value is ₦50,000, what is the annual depreciation charge for an asset costing ₦300,000?

Answer Options

A. ₦40,000
Correct Answer B. ₦50,000
C. ₦60,000
D. ₦70,000
Correct Answer
B
Correct Option:
₦50,000

About This Question

This is Post Utme Ims U 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Ims U Accounting examination.

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