Post Utme Summit University 2021 Accounting Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Summit University Accounting examination.

Post Utme Summit University 2021 Accounting Objective / Multiple Choice
Question 7 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the cost of the asset is ₦150,000 and its residual value is ₦30,000, determine the annual depreciation charge for the first year.

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 Summit University 2021 Accounting Question 7. It is one of the objective questions from the 2021 Post Utme Summit University Accounting examination.

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