Depreciation is an essential concept in accounting that refers to the gradual loss of value of an asset over time. Depreciation is a non-cash expense that helps businesses to reflect the wear and tear or the obsolescence of their long-term assets in their financial statements. It is an accounting method used to allocate the cost of a tangible asset over its useful life. - Study24x7
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Chirag Singhal
04 Apr 2023 03:22 PM study24x7 study24x7

Depreciation is an essential concept in accounting that refers to the gradual loss of value of an asset over time. Depreciation is a non-cash expense that helps businesses to reflect the wear and tear or the obsolescence of their long-term assets in their financial statements. It...

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