Obsolescence, be it expected or unexpected, is a component of depreciation. (True or False with Reasons).
Obsolescence, be it expected or unexpected, is a component of depreciation. (True or False with Reasons).
Anurag Pathak Changed status to publish December 5, 2023
False,
Only expected obsolescence is a component of depreciation. Any loss of value of fixed assets on account of any unexpected obsolescence is called Capital Loss and not depreciation.
Anurag Pathak Changed status to publish December 5, 2023
