Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 6 - No. 50)
What is the treatment of depreciation in the income and expenditure account?
Added to the expenses.
Deducted from the income.
Not included.
Shown in the assets section.
Explanation
Depreciation is treated as an expense and is added to the expenses side of the Income and Expenditure account.
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