Accountancy, asked by yg19968, 11 months ago

what is the meaning of provision for depreciation?

Answers

Answered by shraddhamishra211

2

Answer:

Provision For Depreciation: This is an account head created in accounting system, to accumulate all the depreciation amount of various assets. Depreciation is an expense for any company, so this amount is not credited to asset account, instead this amount is transferred to provision for depreciation account.

Explanation:

thank you

Answered by Arcezeul

1

Answer:

reduction in the value of an asset over time, due in particular to wear and tear.

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