A Company acquired an asset for 60 Lakhs with useful life for 10 years. The remaining useful life of the asset now is 4 years and the current…
CA Intermediate · Advanced Accounting · MTP · September 2025
A Company acquired an asset for 60 Lakhs with useful life for 10 years. The remaining useful life of the asset now is 4 years and the current carrying amount is 30 Lakhs which includes an upward revaluation of 6 Lakhs done in the asset last year. Recoverable amount from the asset is 20 Lakhs.
Suggested Answer and Working Notes:
Correct Answer: Option (C)
₹ 20,00,000
Topics: AS 10, As 28
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