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Trading & profit or loss Account

Balance of de...

Question

Balance of depreciation account is transferred to ____________.

A

Balance Sheet

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B

Trading Account

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C

Manufacturing Account

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D

Profit and Loss Account

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Solution

The correct option is D Profit and Loss Account
Depreciation is a charge to profit and loss account and it is charged against each of the asset on a certain percentage every year.
Depreciation is debited to profit and loss account.

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