Question

What is the principal purpose of charging depreciation on non-current assets?
To spread the cost of the assets over their estimated useful lives
To show the assets at their market value in the balance sheet
To ensure that sufficient funds are available to replace the assets
To comply with the fundamental concept of prudence

Answer 1

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The principal purpose of charging depreciation is done to match or show the real value of the fixed asset during a specific time period. It shows the economic benefit of theasset over the end of its useful life.

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Answer 2

Answer:

prudence

Explanation: