Post Utme Summit University 2017 Accounting Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Summit University Accounting examination.

Post Utme Summit University 2017 Accounting Objective / Multiple Choice
Question 11 POST_UTME_SUMMIT_UNIVERSITY • 2017 • 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 ₦50,000, what is the annual depreciation charge if the asset's cost is ₦250,000?

Answer Options

A. ₦40,000
Correct Answer B. ₦45,000
C. ₦50,000
D. ₦55,000
Correct Answer
B
Correct Option:
₦45,000

About This Question

This is Post Utme Summit University 2017 Accounting Question 11. It is one of the objective questions from the 2017 Post Utme Summit University Accounting examination.

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