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Standard XII
Accountancy
Question

According to Accounting Standard-6 which of the following is not required to be disclosed in the financial statement?
  1. Historical cost of the asset
  2. Depreciated value of the asset
  3. Accumulated depreciation
  4. Total depreciation for the period for each class of asset

A
Depreciated value of the asset
B
Accumulated depreciation
C
Total depreciation for the period for each class of asset
D
Historical cost of the asset
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Solution
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AS-6 deals with depreciation of the tangible asset. Hence, only the historical cost, accumulated depreciation on the asset and total depreciation for the period for each class of asset will be recorded. Depreciable value of asset is not to be disclosed according to AS-6.

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