The correct answer is option 'B' - AS 10.

AS 10, also known as Accounting Standard for Fixed Assets, provides guidelines for accounting for fixed assets. Fixed assets are long-term tangible assets that are used in the production or supply of goods and services, for rental purposes, or for administrative purposes. Some examples of fixed assets include land, buildings, machinery, equipment, and vehicles.

AS 10 provides guidelines for the following aspects of fixed assets accounting:

1. Recognition of Fixed Assets: Fixed assets should be recognized when they are probable to generate future economic benefits, their cost can be measured reliably, and they meet the definition of fixed assets.

2. Initial Measurement of Fixed Assets: Fixed assets should be measured initially at cost, which includes all the costs necessary to acquire and bring the asset to its working condition for its intended use.

3. Subsequent Measurement of Fixed Assets: Fixed assets should be carried at cost less accumulated depreciation and impairment losses.

4. Depreciation: Depreciation should be provided on fixed assets to reflect their consumption of economic benefits over their useful lives.

5. Impairment: Fixed assets should be tested for impairment whenever there is an indication of impairment, and an impairment loss should be recognized if the carrying amount of the asset exceeds its recoverable amount.

6. Retirement or Disposal of Fixed Assets: Fixed assets should be derecognized from the books when they are retired or disposed of, and any resulting gain or loss should be recognized in the profit and loss account.

In summary, AS 10 provides guidelines for recognizing, measuring, depreciating, impairing, and disposing of fixed assets. By following these guidelines, companies can ensure that their financial statements accurately reflect the value of their fixed assets and the expenses associated with their use over time.