In case of depreciation, which of the following is correct?

Asset account is debited & depreciation account is credited.

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Profit & Loss account is credited & depreciation account is debited.

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Asset account is credited & depreciation account is debited.

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Trading account is debited & depreciation account is credited.

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Solution

The correct option is C
Asset account is credited & depreciation account is debited.

In case of depreciation, depreciation account is debited & asset account is credited.

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In case of depreciation, which of the following is correct?

The correct option is C Asset account is credited & depreciation account is debited. In case of depreciation, depreciation account is debited & asset account is credited.

The correct option is C
Asset account is credited & depreciation account is debited.

In case of depreciation, depreciation account is debited & asset account is credited.