Reduction in the book value of an asset over a period of time is called-

Appreciation

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Depreciation

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Proportion

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Depletion

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Solution

The correct option is B
Depreciation

Reduction in the book value of an asset over a period of time is called Depreciation.

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Similar questions

___is a method of depreciation, in which the cost of the asset is spread uniformly over the life years by writing off a fixed amount every year, where as in ___ method of depreciation, a fixed rate of depreciation is charged on the book value of the asset over its useful life.

Q. Depreciation is a ________ shrinkage in the book value of a fixed asset.

Q. The books value of an asset is obtained by deducting depreciation from its __________.

Q. When market value of an asset is higher than book value, depreciation is not charged.

Q. Gross book value of a group of asset is Rs.

130, 000

and total accumulated depreciation of Rs.

24, 000

and current depreciation of Rs.

2000

. The net book value of the asset is ____________.

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Reduction in the book value of an asset over a period of time is called-

The correct option is B Depreciation Reduction in the book value of an asset over a period of time is called Depreciation.

The correct option is B
Depreciation

Reduction in the book value of an asset over a period of time is called Depreciation.