Post Utme Unilag 2024 Accounting Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Unilag Accounting examination.

Post Utme Unilag 2024 Accounting Objective / Multiple Choice
Question 1 POST_UTME_UNILAG • 2024 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and its residual value is ₦0, what is the annual depreciation expense if the asset's cost is ₦120,000?

Answer Options

Correct Answer A. ₦24,000
B. ₦20,000
C. ₦18,000
D. ₦22,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Unilag 2024 Accounting Question 1. It is one of the objective questions from the 2024 Post Utme Unilag Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support