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Mix Topics - Part 1

An asset costs ₹4,00,000, has residual value ₹40,000 and useful life 6 years If the residual value is revised to ₹70,000...

Type: MCQ • Marks: 1
An asset costs ₹4,00,000, has residual value ₹40,000 and useful life 6 years If the residual value is revised to ₹70,000 while the asset is still at the beginning of its life, annual straight-line depreciation becomes:
Options
A. 55000
B. 60000
C. 65000
D. 70000
Explanation
New depreciable amount = ₹4,00,000 − ₹70,000 = ₹3,30,000. ₹3,30,000 ÷ 6 = ₹55,000.
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UPSC Principal & Vice Principal Management Finance Administration

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