Post Utme Lead City University 2020 Accounting Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2020 Accounting Objective / Multiple Choice
Question 16 POST_UTME_LEAD_CITY_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the straight-line method of depreciation for its assets. If the asset's cost is ₦120,000 and its residual value is ₦20,000, what is the annual depreciation charge?

Answer Options

A. ₦50,000
B. ₦60,000
Correct Answer C. ₦80,000
D. ₦100,000
Correct Answer
C
Correct Option:
₦80,000

About This Question

This is Post Utme Lead City University 2020 Accounting Question 16. It is one of the objective questions from the 2020 Post Utme Lead City University Accounting examination.

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