When an asset should be capitalised in the books as per companies act ?
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capitalisation of asset
Replies (1)
AN ASSET SHOULD BE CAPITALISED IN THE FOLLOWING CASES:
1] ANY EXPENDITURE INCURRED UPTO THE DATE WHEN THE ASSET IS PUT TO USE.
2] EVEN AFTER THE ASSET IS PUT TO USE, AN EXPENDITURE WHICH INCREASES THE CAPACITY OF THE ASSET OR THE USEFUL LIFE OF THE ASSET.
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