Post Utme Lead City University 2022 Accounting Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2022 Accounting Objective / Multiple Choice
Question 6 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's accounting policy requires that depreciation be calculated using the straight-line method. The company purchased a machine for ₦120,000 and it is expected to have a useful life of 5 years. Calculate the annual depreciation charge.

Answer Options

Correct Answer A. ₦24,000
B. ₦20,000
C. ₦25,000
D. ₦22,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Lead City University 2022 Accounting Question 6. It is one of the objective questions from the 2022 Post Utme Lead City University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support