Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 26 - No. 17)
What does 'depreciation' represent in a non-profit organization's accounts?
The increase in value of an asset
The allocation of an asset's cost over its useful life
The current market value of an asset
The cash paid for an asset
Explanation
Depreciation is the systematic allocation of the cost of an asset over its useful life.
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