Post Utme Summit University 2024 Accounting Question 42

Practice objective / multiple choice question 42 from the 2024 Post Utme Summit University Accounting examination.

Post Utme Summit University 2024 Accounting Objective / Multiple Choice
Question 42 POST_UTME_SUMMIT_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's depreciation policy is to depreciate its assets by 10% per annum using the straight-line method. If the asset cost ₦ 10,000 and its useful life is 5 years, calculate the annual depreciation charge.

Answer Options

A. ₦ 2,000
Correct Answer B. ₦ 1,667
C. ₦ 1,500
D. ₦ 1,000
Correct Answer
B
Correct Option:
₦ 1,667

About This Question

This is Post Utme Summit University 2024 Accounting Question 42. It is one of the objective questions from the 2024 Post Utme Summit University Accounting examination.

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