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What is the difference between Depriciation and amortization?
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Answer Posted / b.narasimha rao
deprication is the reduction the value of the fixed assets
due to use ,lease
amortization is the reduction the value of intangeble
assets such as goodwill,trademark,patents.
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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