“The permanent assets lose a portion of their value every year” it is called ............., Fill in the blank.
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depreciation
“The permanent assets lose a portion of their value every year” it is called depreciation .
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It is essential to know that the permanent assets lose a portion of their value every year. It is called depreciation.
According to the accounting terms, the depreciation process is defined as a reduction of recorded amount of fixed asset in the systematic manner truly until the overall value of asset becomes negligible or zero.
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