depreciation is generated due to
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Depreciation is referred to as the reduction in the cost of a fixed asset in sequential order, due to wear and tear until the asset becomes obsolete.
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- Depreciation is the sequential cost reduction of the a fixed asset brought on by wear and tear up until the asset is rendered obsolete.
- An asset loses value over time as a result of use, damage, or obsolescence. Depreciation is the measurement for this decline.
Explanation:
- A loss in an asset's value, or depreciation, can also be brought on by other reasons like bad market conditions, etc.
- When a piece of equipment used in business depreciates over time, depreciation occurs.
- For instance, during the course of its useful life, a work computer steadily depreciates from its initial purchase price of £0 to £0.
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