Post Utme Wellspring University 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2023 Accounting Objective / Multiple Choice
Question 39 POST_UTME_WELLSPRING_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the straight-line method to depreciate its assets. If the asset's useful life is 5 years and the 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. ₦25,000
D. ₦30,000
Correct Answer
A
Correct Option:
₦24,000

About This Question

This is Post Utme Wellspring University 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Wellspring University Accounting examination.

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