Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 25 - No. 5)
What is depreciation?
The increase in the value of an asset.
The allocation of the cost of an asset over its useful life.
The current market value of an asset.
The accumulated profits of a business.
Explanation
Depreciation is the systematic allocation of the cost of a tangible asset over its estimated useful life.
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