AAT Practice Assessment 1 Task 1.10 a
RJS
Registered Posts: 2 New contributor 🐸
in Business Tax
Hi,
I have a question regarding part a) of the question on task 1.10 on practice exam 1. In the model answer sheet,cit indicates the cost of polishing the pivots on the clock are not included in the total cost of the asset - why would this be the case? My understanding would be it would be included as enhancement expenditure? Help! Thanks for any responses.
I have a question regarding part a) of the question on task 1.10 on practice exam 1. In the model answer sheet,cit indicates the cost of polishing the pivots on the clock are not included in the total cost of the asset - why would this be the case? My understanding would be it would be included as enhancement expenditure? Help! Thanks for any responses.
0
Answers
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Polishing the clock is classed as maintenance and not enhancement. Good luck in your exam.0
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