Post Utme Joseph Ayo Babalola University 2023 Accounting Question 34

Practice objective / multiple choice question 34 from the 2023 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2023 Accounting Objective / Multiple Choice
Question 34 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2023 • 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 ₦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 Joseph Ayo Babalola University 2023 Accounting Question 34. It is one of the objective questions from the 2023 Post Utme Joseph Ayo Babalola University Accounting examination.

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