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Question Practice

If a modification is made to an existing asset but it is later deemed unnecessary, what should be the appropriate accounting treatment?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Depreciation, Provisions and Reserves
Question Bank

If a modification is made to a...

Single Answer MCQ
Q-00054364

If a modification is made to an existing asset but it is later deemed unnecessary, what should be the appropriate accounting treatment?

1

Leave the accounting records unchanged

2

Write off the modification immediately

3

Reassess the original asset's valuation

4

Ignore the modification cost entirely

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