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DEPRECIATION
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Answer / me
An accounting process by which the cost of a FIXED ASSET, such
as a building or machinery, is allocated as a periodic
expense, spread over the depreciable
life of the ASSET
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / madhulika2011
A METHOD OF ALLOCATING THE COST OF TANGIBLE ASSETS OVER ITS USEFUL LIFE. BUSINESS DEPRECIATE LONG TERM ASSET FOR BOTH TAX AND ACCOUNTING PURPOSE.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / laymanblog
In simple, it means Decrease in the value of the assets. So
the company mentioned the present value of the asset,
deduction the depreciated(decreased) value in the Balance
Sheet.
| Is This Answer Correct ? | 3 Yes | 2 No |
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Audit 
