Question

what is the need for providing depriciation???​

Answer 1

Answer:

Need to Provide Depreciation

Need to Provide DepreciationDepreciation 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. Hence, this should reflect the value of the asset, at which it is carried in the books of accounts.

Answer 2

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. Hence, this should reflect the value of the asset, at which it is carried in the books of accounts.