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Question

Depreciation is the fall in the ____________ of a fixed asset through physical wear and tear due to use or passage of time or from any other cause.

A
Quality
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B
Value
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C
Either (A) or (B)
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D
None of the above
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Solution

The correct option is B Value
Physical wear and tear resulting from use: It is the cause of charging depreciation for the assets which lose their value from the constant use such as fixed assets such as building; plant, machinery etc. get worn out and torn out due to the regular use.

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