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      Question

      If an asset is purchased for ₹1,00,000 with a residual

      value of ₹10,000 and a life of 9 years, the annual depreciation under the Straight Line Method (SLM) is:
      A ₹11,111 Correct Answer Incorrect Answer
      B ₹10,000 Correct Answer Incorrect Answer
      C ₹9,000 Correct Answer Incorrect Answer
      D ₹12,000 Correct Answer Incorrect Answer
      E ₹1,000 Correct Answer Incorrect Answer

      Solution

      Depreciation = (Cost - Residual Value) / Life. ($100,000 - 10,000$) / $9$ = $10,000$.

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