Question

what do you mean by depreciation​

Answer 1

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$\textsf{\pink{Q.}}$What do you mean by Depreciation?

$\textsf{\pink{Ans.}}$ Depreciation is permanent and gradual decrease in the value of asset.

Causes of Depreciation :-

i.) By Accident

ii.) By obsolescence

iii.) By constant use

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Answer 2

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The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation. ... Machinery, equipment, currency are some examples of assets that are likely to depreciate over a specific period of time.