Post Utme Mountain Top University 2025 Accounting Question 33

Practice objective / multiple choice question 33 from the 2025 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2025 Accounting Objective / Multiple Choice
Question 33 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. The asset's cost is ₦120,000, and its residual value is ₦20,000. The asset is expected to have a useful life of 5 years. Calculate the annual depreciation charge.

Answer Options

A. ₦20,000
B. ₦22,000
Correct Answer C. ₦24,000
D. ₦26,000
Correct Answer
C
Correct Option:
₦24,000

About This Question

This is Post Utme Mountain Top University 2025 Accounting Question 33. It is one of the objective questions from the 2025 Post Utme Mountain Top University Accounting examination.

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