Question

Q.27 At the time of charging depreciation asset account is and depreciation account​

Answer 1

The time of charging depreciation asset account is and depreciation account is fixed asset

Explanation:  

                Depreciation is defined as the reduction in the value of fixed asset  due to normal wear & tear , usage and obsolescence . Depreciation is loss and debited to profit & loss account. The related asset account is  credited  when depreciation is charged. Depreciation is charged and fixed assets only when it is necessary to apportion the cost over a number of years during the useful life of an asset.