Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 25 - No. 1)
What is 'Depreciation'?
The increase in the value of an asset over time.
The allocation of the cost of a tangible asset over its useful life.
The process of repairing equipment.
The gain made on the sale of an asset.
Explanation
Depreciation is the systematic allocation of the cost of a tangible asset over its estimated useful life.
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