Post Utme Redeemers University 2022 Accounting Question 28

Practice objective / multiple choice question 28 from the 2022 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2022 Accounting Objective / Multiple Choice
Question 28 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • ACCOUNTING • objective

A government agency has a depreciation policy that requires it to depreciate its assets by 10% per annum. If an asset has a cost of ₦100,000 and a residual value of ₦20,000, what is the asset's value after 3 years?

Answer Options

A. ₦60,000
B. ₦70,000
Correct Answer C. ₦80,000
D. ₦90,000
Correct Answer
C
Correct Option:
₦80,000

About This Question

This is Post Utme Redeemers University 2022 Accounting Question 28. It is one of the objective questions from the 2022 Post Utme Redeemers 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