If a block of assets ceases to exist on the last day of the previous year, depreciation admissible for the block of assets will be –
A. Nil
B. 50% of the value of the block of assets on the first day of the previous year
C. The total value of the block of assets on the first day of the previous year
D. 50% of the value of the block of assets on the last day of the previous year
Answer:A
If a block of assets ceases to exist on the last day of the previous year, depreciation admissible for the block of assets will be –
A. Nil B. 50% of the value of the block of assets on the first day of the previous year C. The total value of the block of assets on the first day of the previous year D. 50% of the value of the block of assets on the last day of the previous year