Post Utme Nile University 2022 Accounting Question 18

Practice objective / multiple choice question 18 from the 2022 Post Utme Nile University Accounting examination.

Post Utme Nile University 2022 Accounting Objective / Multiple Choice
Question 18 POST_UTME_NILE_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the straight-line method of depreciation to depreciate its assets. If the asset cost ₦500,000 and has a residual value of ₦50,000, what is the annual depreciation charge?

Answer Options

A. ₦40,000
B. ₦45,000
Correct Answer C. ₦50,000
D. ₦55,000
Correct Answer
C
Correct Option:
₦50,000

About This Question

This is Post Utme Nile University 2022 Accounting Question 18. It is one of the objective questions from the 2022 Post Utme Nile 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