Post Utme Ims U 2023 Accounting Question 38

Practice objective / multiple choice question 38 from the 2023 Post Utme Ims U Accounting examination.

Post Utme Ims U 2023 Accounting Objective / Multiple Choice
Question 38 POST_UTME_IMS_U • 2023 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset has a useful life of 5 years and a residual value of ₦50,000, calculate the annual depreciation charge for an asset costing ₦250,000.

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 2023 Accounting Question 38. It is one of the objective questions from the 2023 Post Utme Ims U Accounting examination.

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