Which of the following statement is FALSE? True statements are: • Ext
Right Answer is: C
True statements are:
• Extraction of natural resources like mines, quarries etc. that reduces the availability of the quantity of the material or asset is termed as depletion.
• Depreciation doesn’t provide fund for replacement.
• Depreciation is charged even if adequate maintenance expenditure is incurred.
• Depreciation is charged even if market value of an asset is higher than its book value.