Post Utme Rhema University 2023 Accounting Question 10

Practice objective / multiple choice question 10 from the 2023 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2023 Accounting Objective / Multiple Choice
Question 10 POST_UTME_RHEMA_UNIVERSITY • 2023 • ACCOUNTING • objective

A company purchases a machine for ₦120,000 and pays ₦30,000 in cash and the balance by a 3-year loan at 10% interest per annum. What is the amount of interest paid annually?

Answer Options

A. ₦3,000
Correct Answer B. ₦3,500
C. ₦4,000
D. ₦4,500
Correct Answer
B
Correct Option:
₦3,500

About This Question

This is Post Utme Rhema University 2023 Accounting Question 10. It is one of the objective questions from the 2023 Post Utme Rhema University Accounting examination.

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