Post Utme Noun 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Noun Accounting examination.

Post Utme Noun 2021 Accounting Objective / Multiple Choice
Question 21 POST_UTME_NOUN • 2021 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and the 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. ₦25,000
C. ₦26,000
D. ₦28,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Noun 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Noun 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