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Which of the following would mean that an asset has depreciated? |
Loss of machine due to theft Closure of plant due to strike Destruction of asset due to natural calamity None of the above |
None of the above |
The correct answer is option 4 : None of the above Depreciation is the decrease in value of fixed assets with the passage of time due to wear and tear. Loss of plant due to theft, natural calamity or strike is a capital loss. |
