depreciation is charged only on the
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Depreciation is the permanent and continuous decrease in the book value of a depreciable fixed asset due to use, effluxion of time, obsolescence, expiration of legal rights or any other cause.
An analysis of definition given above highlights the characteristics of depreciation as follows:
It is related to depreciable fixed assets only.
It is a fall in the book value of depreciable fixed asset.
It is a permanent decrease in the book value of an asset.
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Fixed asset
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