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X Ltd purchased a factory in August 1998. It was sold for £200,000 in January 2013 giving rise to an indexed gain of £35,000. In March 2013 X Ltd bought fixed plant and machinery costing £220,000. The gain is deferred until the earliest of which three of the following events? A. Three years after the acquisition of the replacement asset. B. The date that the replacement asset ceases to be used in the trade. C. Ten years after the disposal of the original asset. D. The disposal of the replacement asset. E. Ten years after the acquisition of the replacement asset. |