Question 17 of 33
Q.Depreciation is to be calculated from the date when :
(a) Asset is received at business premises
(b) Asset is put to use
(c) Invoice of assets is received
(d) Purchase order of Asset is made
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2023MCQ· 1mImportance★★★★★
52% · 17/33 Questions
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Start your 14-day free trial to unlock the full solution →Concept understanding — Meaning and Causes of Depreciation
Depreciation is the systematic allocation of a fixed asset's cost (less its estimated scrap value) over its useful life, so each accounting period bears its fair share of the cost of using the asset — the Matching Principle applied to a long-lived asset. Its main causes are wear and tear, efflux of time, obsolescence, and depletion (for na …
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