Post Utme Summit University 2025 Accounting Question 12

Practice objective / multiple choice question 12 from the 2025 Post Utme Summit University Accounting examination.

Post Utme Summit University 2025 Accounting Objective / Multiple Choice
Question 12 POST_UTME_SUMMIT_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the cost of an asset is ₦120,000 and its residual value is ₦20,000, what is the annual depreciation charge if the asset is expected to last for 5 years?

Answer Options

A. ₦16,000
B. ₦20,000
Correct Answer C. ₦24,000
D. ₦28,000
Correct Answer
C
Correct Option:
₦24,000

About This Question

This is Post Utme Summit University 2025 Accounting Question 12. It is one of the objective questions from the 2025 Post Utme Summit University Accounting examination.

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