Question
Depreciation is loss in value of ________
Answer: Option C
Answer: (c)
The term depreciation represents a loss or diminution in the value of an asset consequent upon wear and tear, obsolescence, effluxion of time or permanent fall in market value. Physical deterioration of an asset is caused by movement, strain, friction, erosion etc.
For instance, building, machinery, furniture, vehicles, plant etc. Wear and tear is the general but primary cause of depreciation.
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Answer: (c)
The term depreciation represents a loss or diminution in the value of an asset consequent upon wear and tear, obsolescence, effluxion of time or permanent fall in market value. Physical deterioration of an asset is caused by movement, strain, friction, erosion etc.
For instance, building, machinery, furniture, vehicles, plant etc. Wear and tear is the general but primary cause of depreciation.
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