Post Utme Uniport 2020 Accounting Question 17

Practice objective / multiple choice question 17 from the 2020 Post Utme Uniport Accounting examination.

Post Utme Uniport 2020 Accounting Objective / Multiple Choice
Question 17 POST_UTME_UNIPORT • 2020 • ACCOUNTING • objective

A company uses the straight-line method of depreciation. If the asset's cost is ₦1,000,000 and its residual value is ₦200,000, what is the annual depreciation charge if the asset is used for 5 years?

Answer Options

A. ₦100,000
B. ₦120,000
Correct Answer C. ₦150,000
D. ₦180,000
Correct Answer
C
Correct Option:
₦150,000

About This Question

This is Post Utme Uniport 2020 Accounting Question 17. It is one of the objective questions from the 2020 Post Utme Uniport Accounting examination.

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