Which of these statements is/are correct?

I The total provision for depreciation of an asset such as equipment is information that is required when calculating the loss or gain on disposal.

II The units-of-production method allocates the same amount of depreciation each year based on the usage of the asset.

Select one:

a. Both (I) and (II) are correct

b. Only I is correct

c. Both (I) and (II) are incorrect

d. Only II is correct