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Depreciation is asset or liability?
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Answer Posted / sachin tapse
Depreciation is nominal account and is always debited to
P&L A/c. It is shown in B/s Asset side as "Fixed asset
less depreciation". So, it can't be asset nor liability
also it is a permanent and gradual decrease in the value of
asset(non-trading expense).
| Is This Answer Correct ? | 7 Yes | 1 No |
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