Post Utme Wellspring University 2024 Accounting Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2024 Accounting Objective / Multiple Choice
Question 38 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the straight-line method of depreciation for its assets. If the asset's cost is ₦100,000 and its residual value is ₦20,000, what is the annual depreciation charge if the asset is expected to last for 5 years?

Answer Options

A. ₦15,000
Correct Answer B. ₦16,667
C. ₦20,000
D. ₦25,000
Correct Answer
B
Correct Option:
₦16,667

About This Question

This is Post Utme Wellspring University 2024 Accounting Question 38. It is one of the objective questions from the 2024 Post Utme Wellspring University Accounting examination.

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