Post Utme Redeemers University 2020 Accounting Question 32

Practice objective / multiple choice question 32 from the 2020 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2020 Accounting Objective / Multiple Choice
Question 32 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset's useful life is 5 years and the residual value is ₦20,000, calculate the annual depreciation charge if the asset's cost is ₦150,000.

Answer Options

A. ₦25,000
Correct Answer B. ₦28,571
C. ₦30,000
D. ₦35,000
Correct Answer
B
Correct Option:
₦28,571

About This Question

This is Post Utme Redeemers University 2020 Accounting Question 32. It is one of the objective questions from the 2020 Post Utme Redeemers University Accounting examination.

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