Post Utme Rhema University 2024 Accounting Question 2

Practice objective / multiple choice question 2 from the 2024 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2024 Accounting Objective / Multiple Choice
Question 2 POST_UTME_RHEMA_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. A machine was purchased on 1st January 2022 for ₦500,000. The machine has a useful life of 5 years. What is the annual depreciation charge for the year ended 31st December 2023?

Answer Options

A. ₦100,000
B. ₦80,000
Correct Answer C. ₦60,000
D. ₦40,000
Correct Answer
C
Correct Option:
₦60,000

About This Question

This is Post Utme Rhema University 2024 Accounting Question 2. It is one of the objective questions from the 2024 Post Utme Rhema University Accounting examination.

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