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Question
The useful life specified in Part C of Schedule II of the Companies Act, 2013 for furniture and fittings used in hotels, restaurant, school, colleges etc is _____ years.
The useful life specified in Part C of Schedule II of the Companies Act, 2013 for furniture and fittings used in hotels, restaurant, school, colleges etc is _____ years.
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Solution
The correct option is B 10
Schedule
II of Companies Act, 2013 specified different useful life for different types
of assets as per its nature. Furniture and fittings has been divided into two categories
as mentioned below:
(i)
General furniture and fittings: 10 years
(ii)
Furniture and fittings used in or furniture and fittings used in hotels, restaurant,
school, colleges etc.: 8 years
Schedule
II of Companies Act, 2013 specified different useful life for different types
of assets as per its nature. Furniture and fittings has been divided into two categories
as mentioned below:
(i) General furniture and fittings: 10 years
(ii) Furniture and fittings used in or furniture and fittings used in hotels, restaurant, school, colleges etc.: 8 years
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