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The ware and tear of a fixed assets of a company which is chargeable to...

Accounts - Principles of Accounts
JAMB 2015
The ware and tear of a fixed assets of a company which is chargeable to company’s financial statement is called ------------------------------
  • A. appreciation
  • B. amortization
  • C. provisions
  • D. depreciation
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Correct Answer: Option D
Explanation
Depreciation is the reduction in the service potential of an asset as a result of wear and tear.
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