Depreciation means:
Depreciation means:
(a) Destruction of a plant in a fire accident
(b) Loss of fixed assets over time due to wear and tear
(c) Loss of fixed assets in an earthquake
(d) Closure of the plant due to lockout
Anurag Pathak Changed status to publish December 5, 2023
Ans – (b)
Depreciation is the loss of fixed assets over time due to wear and tear.
Destruction of a plant in a fire accident, loss of fixed assets in an earthquake, and closure of the plant due to lockout are unexpected losses and are considered capital loss, not depreciation.
Anurag Pathak Changed status to publish December 5, 2023
