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A machine has a cost of ₹8,00,000, residual value ₹80,000 and useful life of 8 years Under straight-line depreciation, i...

Type: MCQ • Marks: 1
A machine has a cost of ₹8,00,000, residual value ₹80,000 and useful life of 8 years Under straight-line depreciation, its carrying amount after 3 full years is:
Options
A. 480000
B. 500000
C. 530000
D. 620000
Explanation
Annual depreciation = (8,00,000 − 80,000)/8 = ₹90,000. Three years' depreciation = ₹2,70,000. Carrying amount = ₹8,00,000 − ₹2,70,000 = ₹5,30,000.
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UPSC Principal & Vice Principal Management Finance Administration

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