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Byju's Answer
Standard XII
Economics
Depreciation
Decrease in v...
Question
Decrease in value of a fixed asset due to normal wear and tear is known as _____.
A
depreciation
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B
obsolescence
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C
appropriation
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D
spoilage
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Solution
The correct option is
A
depreciation
Depreciation is a non-cash expense that reduces the value of an asset over time.
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