alleryStart learning →Depreciation of a finance-leased asset follows the standard on
AAS 26 Intangible Assets
BAS 13 Accounting for Investments
CAS 10 Property, Plant, Equipment
DAS 9 Revenue Recognition
Answer & Solution
Correct answer: C. AS 10 Property, Plant, Equipment
Depreciation is calculated on the basis set out for owned depreciable assets in AS 10.
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Related questions
Leaving a finance lease off the lessee's balance sheet understates obligations and distortFor a lessee, the amount of a residual value guarantee is theA lessor on finance leases also discloses accumulated provision forWhich must a lessor disclose for finance leases?In a finance leaseback, the carrying amount is written down only if there isLeaseback below fair value, loss offset by cheap rentals, isAsset sold at fair value Rs 6 lakh, carrying amount Rs 8 lakh, operating leaseback. Loss rOperating leaseback above fair value: the excess is