Which of the following statement is FALSE in relation to the term depr
Right Answer is: C
• Depreciation- The decrease in monetary value of an asset due to use, wear & tear over a period of time is known as depreciation.
• True statements about depreciation are:
• It is decline in the book value of fixed assets.
• It is a continuing process.
• It is an expired cost.
• It is a non cash expense.