Waec Model Questions Vol1 2025 Financial Accounting Question 2

Practice objective / multiple choice question 2 from the 2025 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2025 Financial Accounting Objective / Multiple Choice Medium Difficulty
Question 2 WAEC_MODEL_QUESTIONS_VOL1 • 2025 • FINANCIAL_ACCOUNTING • objective

A machine purchased for ₦120,000 has a useful life of 5 years and a residual value of ₦20,000. If the company uses the straight-line method of depreciation, what will be the annual depreciation expense?

Answer Options

A. ₦30,000
B. ₦15,000
Correct Answer C. ₦20,000
D. ₦25,000
Correct Answer
C
Correct Option:
₦20,000

About This Question

This is Waec Model Questions Vol1 2025 Financial Accounting Question 2. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Medium .

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