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CA Certified Accountant VIP Practice Exam
CA — This exam mirrors the Chartered Accountant (CA) Final examination as administered by major professional accounting bodies such as the Institute of Chartered Accountants of India (ICAI), ICAEW (England & Wales), and CA ANZ; the real CA Final typically consists of multiple 3-hour papers covering Financial Reporting, Auditing, Taxation, Financial Management, and Strategic Management, with a passing requirement of 40% per subject and 50% aggregate.
34
Questions
90m
Time Limit
50.00%
To Pass
Question 1 of 34👑 VIP
Meridian Ltd. acquires a piece of machinery on April 1 for ₹12,00,000. The asset has a useful life of 10 years with a residual value of ₹1,20,000. The company uses the Straight-Line Method (SLM) of depreciation. During the fifth year, a technical review concludes that the remaining useful life of the asset is only 3 more years (instead of the originally expected 5), and the residual value is revised to ₹60,000. What is the depreciation charge for the fifth year under IAS 16 / Ind AS 16?
Questions 2–34 and full explanations are VIP-exclusive.