Post Utme Veritas University 2020 Accounting Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2020 Accounting Objective / Multiple Choice
Question 1 POST_UTME_VERITAS_UNIVERSITY • 2020 • ACCOUNTING • objective

Determine the amount of depreciation expense for the year ended December 31, 2020, for a machine purchased on January 1, 2018, at ₦150,000, with a useful life of 5 years and a residual value of ₦20,000.

Answer Options

A. ₦20,000
B. ₦30,000
Correct Answer C. ₦40,000
D. ₦50,000
Correct Answer
C
Correct Option:
₦40,000

About This Question

This is Post Utme Veritas University 2020 Accounting Question 1. It is one of the objective questions from the 2020 Post Utme Veritas University Accounting examination.

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