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Question
Any addition or extension to asset must be ________ its useful life of that asset.
Any addition or extension to asset must be ________ its useful life of that asset.
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Solution
The correct option is D Depreciated
Option A is the Correct one.Depreciation is must on every Fixed assets and on its addition or extension for that there are three basic condition.
1.The Assets must be Fixed Tangible Assets
2.The Assets must be used for Business Purpose3.The must have limited lifeNote :- Land has not limited or specific life therefore we can't calculate depreciation on Land.
Option A is the Correct one.
Depreciation is must on every Fixed assets and on its addition or extension
for that there are three basic condition.
1.The Assets must be Fixed Tangible Assets
2.The Assets must be used for Business Purpose
1.The Assets must be Fixed Tangible Assets
2.The Assets must be used for Business Purpose
3.The must have limited life
Note :- Land has not limited or specific life therefore we can't calculate depreciation on Land.
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