A fall or decrease in the economic service potential of an asset as a result of wear, tear and obsolescence is referred to as

A fall or decrease in the economic service potential of an asset as a result of wear, tear and obsolescence is referred to as

A

Estimate

B

Depreciation

C

Asset

DUseful Life

Answer is B

Depreciation is the gradual decrease in the economic value of the capital stock of a firm, nation or other entity, either through physical depreciation, obsolescence or changes in the demand for the services of the capital in question.

Leave a Reply

MEET OVER 2000 NOUN STUDENTS HERE. 

Join us for latest NOUN UPDATES and Free TMA answers posted by students on our Telegram. 

OUR ONLINE TUTORIAL CLASS IS NOW ON!!! JOIN US NOW. 
JOIN NOW!
close-link