Question

The useful life specified in Part C of Schedule II of the Companies Act, $2013$ for factory building is ______ years.

• A. $15$
• B. $30$
• C. $10$
• D. $5$

Answer 1

Answer: (B)

$30$

Schedule II of Companies Act, 2013 specified different useful life for different types of assets as per its nature. Building has been divided into five categories, among which useful life specified for factory building is 30 years.