frequent changes in the methods of depreciation should be avoided-identify the accounting principle
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Answer:
✠ Frequent changes in the methods of depreciation should be avoided :-
➥ Constant Principle.
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✰ Extra Information for General Knowledge :
✬ Depreciation :
The monetary value of an asset decrease over time due to use , wear and tear or obsolescence . This decrease is measured as depreciation .
✯︎ Various Depreciation Methods :
Straight Line Depreciation Method
Diminishing Balance Method
Sum of Years' Digits Method
Double Declining Balance Method
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Consistancy Principle
Explanation:
Explanation:According to this principle, the same accounting principles and practices should be followed every year. This also makes comparing previous year's result with this year's result easier. (Result Profit/Loss).
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