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What is meant by depreciation |
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Answer» Depreciation is fall or reduction in the value of fixed tangible asset after/due to a period of time, accident ,any other reasons. Reduced in the value of assets Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes. It means fall in value of tangible fixed assets. |
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