Provision for Depreciation is

Name: Provision for Depreciation is
Brand: Quizplus
Rating: 4.7 (53 reviews)

Question

Quizplus · Accepted Answer

Provision for Depreciation is a charge against the profit. It represents the amount of an asset's cost that has been used up during the accounting period, reflecting the wear and tear, obsolescence, or decline in the value of the asset over its useful life. This charge helps in matching the cost of the asset with the revenue it generates over its useful life, in accordance with the matching principle of accounting.

Provision for Depreciation Is