Question

Q13- What is depreciation? explain their characteristics​

Answer 1

Depreciation is decline in the book value of fixed assets.

Depreciation includes loss of value of assets due to passage of time, usage or obsolescence.

Depreciation is a continuing process till the end of the useful life of assets.

Depreciation is an expired cost and hence must be deducted before calculating taxable profits.

Depreciation is a non-cash expense. It does not involve cash flow.

Depreciation is the process of writing-off the capital expenditure already incurred.

Loss should be gradual and constant.

Depreciation is the exhaustion of the effective life of business.

Depreciation is the normal feature.

Maintenance of assets is not depreciation.

Answer 2

Answer:

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