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With Regards to the Exercise 16 ; the Special Rate pool include a Asset bought and Sold in Same Year ; so
1. why its not elected for Short term Asset Classification
2. Also how the Balancing Figures will be carried forward although the Asset underlying is already disposed off, shouldn’t we take “Balance Adjustment ” in this case ?Have you used the OT Study Notes and lectures?
See OT Study Notes p.31 Chapter 5 Section 7.2 part (c) on short life assets and Section 7.3 on balancing adjustments for when they can and cannot arise on a disposal of a pool asset
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