Para 24 of accounting standard 6

Shalaka Chawla (-) (44 Points)

26 October 2013  

Hi members!

 

Please clarify whether in para 24 of accounting standard 6-Depreciation accounting...there are two conditions on fulfilment of which the addition/extension could be depreciated on its own useful life...

1) Separate identity AND

2) Capable of being used even after existing asset is disposed off..?

 

The word AND means both the conditions need to be satisfied??