Post Utme Ui 2024 Accounting Question 37

Practice objective / multiple choice question 37 from the 2024 Post Utme Ui Accounting examination.

Post Utme Ui 2024 Accounting Objective / Multiple Choice
Question 37 POST_UTME_UI • 2024 • ACCOUNTING • objective

A company uses the straight-line method of depreciation for its assets. If the asset's cost is ₦120,000 and its residual value is ₦20,000, what is the annual depreciation charge for the first year?

Answer Options

A. ₦50,000
B. ₦60,000
Correct Answer C. ₦80,000
D. ₦90,000
Correct Answer
C
Correct Option:
₦80,000

About This Question

This is Post Utme Ui 2024 Accounting Question 37. It is one of the objective questions from the 2024 Post Utme Ui Accounting examination.

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