Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 23 - No. 32)
What does 'depreciation' represent?
The increase in value of an asset over time.
The systematic allocation of the cost of an asset over its useful life.
The current market value of an asset.
The cash spent to acquire an asset.
Explanation
Depreciation is the process of allocating the cost of a tangible asset over its useful life.
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