Depreciation is the term used when plants, equipment and housing deteriorate and wear out, thus losing their original values.

Name: Depreciation is the term used when plants, equipment and housing deteriorate and wear out, thus losing their original values.
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

Depreciation is the gradual decrease in value of assets such as plants, equipment and housing over time due to wear and tear, obsolescence, and other factors. This decrease in value must be accounted for in financial statements and tax returns.

Depreciation Is the Term Used When Plants, Equipment and Housing