Post Utme Ims U 2022 Accounting Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Ims U Accounting examination.

Post Utme Ims U 2022 Accounting Objective / Multiple Choice
Question 21 POST_UTME_IMS_U • 2022 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and the residual value is ₦50,000, what is the annual depreciation charge if the asset's cost is ₦500,000?

Answer Options

A. ₦80,000
B. ₦90,000
Correct Answer C. ₦100,000
D. ₦110,000
Correct Answer
C
Correct Option:
₦100,000

About This Question

This is Post Utme Ims U 2022 Accounting Question 21. It is one of the objective questions from the 2022 Post Utme Ims U Accounting examination.

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