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Which of the following are reasons for maintaining a non-current asset register? (i) To calculate the total balance outstanding on loans raised to buy non-current assets (ii) To help in carrying out the physical verification of non-current assets (iii) To calculate the profit or loss on disposal of non-current assets

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Among the options provided:

(ii) To help in carrying out the physical verification of non-current assets

(iii) To calculate the profit or loss on disposal of non-current assets

Both of these reasons are valid for maintaining a non-current asset register.

Keeping an up-to-date record or register of non-current assets aids in verifying their existence through physical inspections or audits (ii).

Additionally, it facilitates the calculation of profits or losses incurred upon the disposal of non-current assets (iii). This information is crucial for financial reporting and decision-making within an organization.

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