Depreciation Test Questions — Flashcards | Accounting | FatSkills

Depreciation Test Questions — Flashcards

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In accountancy, depreciation is a term that refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year.
Basically, Depreciation is a process of deducting the cost of an asset over its useful life.

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Define Depreciation?
Resource diminishes over the long run because of utilization.
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