What type of asset depreciates

What type of asset depreciates

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depreciaton is reduction in value of assets of company due to wear and tear, usage of assets, due ot pasing of time etc

depreciation is chargeable on tangible assets such as building, motor vehilce, furnitrue ,equipment , mahcinery etc

it is also charged on intangible assets like software, patents,copyrights etc

low cost items with short span of life are recorded as expenses

the purpose of deprecition is to match cost of assets to the revenues earned using the assets


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ekkarill92 answered 1 year ago

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