⭐ Important points (exam-critical)
- ⭐Sinking fund method involves investment of annual provision outside the business.
- ⭐Schedule II of Companies Act 2013 prescribes useful lives — not rates.
- ⭐On revaluation upward: surplus to Revaluation Reserve; depreciation on revalued amount.
- ⭐8-mark sum: Asset Disposal A/c with multiple purchases / part-year depreciation.
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