Question

Provision for depreciation

Answer 1

Answer:

this is an account head in accounting system ,to accumulate all the depreciation amount of various assets. depreciation is an expense for any company.

Answer 2

Provision For Depreciation: This is an account head created in accounting system, to accumulate all the depreciation amount of various assets. Depreciation is an expense for any company, so this amount is not credited to asset account, instead this amount is transferred to provision for depreciation account.