Post Utme Pan Atlantic University 2023 Accounting Question 19

Practice objective / multiple choice question 19 from the 2023 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2023 Accounting Objective / Multiple Choice
Question 19 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ACCOUNTING • objective

Determine the amount of depreciation expense for the year ended December 31, 2022, using the straight-line method, given the following information: Cost of asset = ₦120,000; Residual value = ₦20,000; Useful life = 5 years.

Answer Options

A. ₦20,000
Correct Answer B. ₦24,000
C. ₦28,000
D. ₦32,000
Correct Answer
B
Correct Option:
₦24,000

About This Question

This is Post Utme Pan Atlantic University 2023 Accounting Question 19. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Accounting examination.

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