Question on: JAMB Accounting - 2024
Depreciation is?
A
an appropriation of profit
B
estimated life of an asset
C
loss in the value of fixed asset
D
increase in asset value
Ask EduPadi AI for a detailed answer
Correct Option: C
Depreciation is the reduction in the value of a fixed asset due to wear and tear, usage, obsolescence, or the passage of time.
Add your answer
Please share this, thanks!
No responses