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Question 24.Which of the following best describe the term Depriciation?Answer:Valuation of fixed asset at the end of the yearVerification of assetsO Allocation of cost of fixed assets over its useful lifeDecreasing the market value of assets​

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Answer:

depreciation is the fall in the value of TANGIBLE FIXED ASSETS with efflux to time or accident or obsolescence.

Depreciation is a permanent continuing and GRADUAL fall in the value of fixed assets. it reduces the book value of the assets. HOWEVER it's market value can be different.

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