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Depriciation is an expense or loss? …

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Depriciation is an expense or loss? Explain your answer

Posted by Vasu Jain 6 years, 5 months ago

CBSE > Class 11 > Accountancy

1 answers

Sia ? 6 years, 5 months ago

The value of fixed assets reduce after years because of usage and passage of time. It is well known that fixed assets are used for earning revenue. Therefore, decrease in their value is considered as an expense or loss incurred in earning revenue and like other expenses or losses, is charged to the Profit & Loss Account. Otherwise, profit will be overstated.

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