Accountancy, asked by ttazimkhan54, 7 months ago

state briefly the need for providing depreciation

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Answered by avniverma75

Answer:

Need to Provide Depreciation

Depreciation needs to be provided because an asset is bound to undergo wear and tear over a period of time. This reduces the working capacity and effectiveness of the asset. ... The value of the asset will hence decrease over time and this must be accounted for.

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