Post Utme Nile University 2020 Accounting Question 11

Practice objective / multiple choice question 11 from the 2020 Post Utme Nile University Accounting examination.

Post Utme Nile University 2020 Accounting Objective / Multiple Choice
Question 11 POST_UTME_NILE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and its residual value is ₦0, what is the annual depreciation charge if the asset's cost is ₦120,000?

Answer Options

Correct Answer A. ₦24,000
B. ₦20,000
C. ₦30,000
D. ₦25,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Nile University 2020 Accounting Question 11. It is one of the objective questions from the 2020 Post Utme Nile University Accounting examination.

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