Post Utme Rhema University 2023 Accounting Question 29

Practice objective / multiple choice question 29 from the 2023 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2023 Accounting Objective / Multiple Choice
Question 29 POST_UTME_RHEMA_UNIVERSITY • 2023 • ACCOUNTING • objective

A company purchases a building for ₦500,000 and depreciates it by 5% per annum using the reducing balance method. Calculate the depreciation for the first three years.

Answer Options

Correct Answer A. ₦25,000, ₦24,750, ₦24,437.50
B. ₦24,750, ₦24,187.50, ₦23,624.38
C. ₦24,187.50, ₦23,624.38, ₦22,998.19
D. ₦23,624.38, ₦22,998.19, ₦22,329.91
Correct Answer
A
Correct Option:
₦25,000, ₦24,750, ₦24,437.50

About This Question

This is Post Utme Rhema University 2023 Accounting Question 29. It is one of the objective questions from the 2023 Post Utme Rhema University Accounting examination.

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