Question on: SS1 Accounting - Provision For Depreciation On Fixed Assets: Meaning And Calculation of Depreciation
What is the provision of depreciation on fixed assets?
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A
The systematic allocation of the cost of a fixed asset over its useful life
B
The full recording of the cost of a fixed asset in the year of purchase
C
The systematic allocation of the cost of a fixed asset over the next year only
D
The systematic allocation of the cost of a fixed asset over the next few years only
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Correct Option: A
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