Question

The term depreciation is used to write off *

Fixed Assets

Tangible Fixed Assets other than Land

Intangible Assets

Wasting Assets​

Answer 1

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The term depreciation is used to write off

• ) Fixed assets.

more about depreciation:-

Business is established for an indefinite period. Fixed assets are, therefore acquired for its use.Fixed assets increase the earning capacity of the business. These are constantly used in business.The assets lose their value gradually due to constant use.This decrease in value of assets is known as depreciation in accounting.

Loss in the value and utility of assets due to their constant use and expiry of time is termed as depreciation.

Depreciation may be defined as the gradual and permanent dimination in the value of assets due to wear and tear ,use or abuse or efflux of time.