Post Utme Wellspring University 2021 Accounting Question 12

Practice objective / multiple choice question 12 from the 2021 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2021 Accounting Objective / Multiple Choice
Question 12 POST_UTME_WELLSPRING_UNIVERSITY • 2021 • ACCOUNTING • objective

A company has the following assets: a building worth ₦50,000,000, a machine worth ₦20,000,000, and a vehicle worth ₦10,000,000. The company uses the straight-line method of depreciation. Calculate the annual depreciation for each asset.

Answer Options

Correct Answer A. Building: ₦1,250,000, Machine: ₦83,333, Vehicle: ₦500,000
B. Building: ₦1,000,000, Machine: ₦50,000, Vehicle: ₦250,000
C. Building: ₦1,500,000, Machine: ₦100,000, Vehicle: ₦500,000
D. Building: ₦1,250,000, Machine: ₦83,333, Vehicle: ₦250,000
Correct Answer
A
Correct Option:
Building: ₦1,250,000, Machine: ₦83,333, Vehicle: ₦500,000

About This Question

This is Post Utme Wellspring University 2021 Accounting Question 12. It is one of the objective questions from the 2021 Post Utme Wellspring University Accounting examination.

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