DEPRECIATION
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Answer / me
An accounting process by which the cost of a FIXED ASSET, such
as a building or machinery, is allocated as a periodic
expense, spread over the depreciable
life of the ASSET
Is This Answer Correct ? | 6 Yes | 0 No |
Answer / madhulika2011
A METHOD OF ALLOCATING THE COST OF TANGIBLE ASSETS OVER ITS USEFUL LIFE. BUSINESS DEPRECIATE LONG TERM ASSET FOR BOTH TAX AND ACCOUNTING PURPOSE.
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / laymanblog
In simple, it means Decrease in the value of the assets. So
the company mentioned the present value of the asset,
deduction the depreciated(decreased) value in the Balance
Sheet.
Is This Answer Correct ? | 3 Yes | 2 No |
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