Question

As per accounting standard, depreciation of an asset begins when _______

Q: Answer-As per accounting standard, depreciation of an asset begins when _______

As per accounting standards Ind AS-16, depreciation commences when the asset is available for use, i.e., when it is in the location and condition necessary for it to operate as intended by management, and not necessarily when it is actually used.

A The asset is purchased

B The asset is installed

C The asset is put to use for production

D The asset is available for use

E The first revenue is generated from the asset

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As per accounting standard, depreciation of an asset begins when _______

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