Question

Assets vs ravages of time

Answer 1

RAVAGES OF TIME - The mean of the context ravages of time with regards to accountancy is the damage or destruction caused by cause of wear and tear , amortization , effluxion of time , to the assets involved in the business .

ASSET - something that in future can generate cash flow , help in generation of revenue , improve sales and increase in production , and increase in firm's value or benefit the firm's production .

Explanation:

FIXED ASSETS ARE LONG TERM RESOURCES , SUCH AS plant , machinery , land , building and equipment . WHEREAS ravages of time are the charges on assets with the passage of time .