A fall or decrease in the economic service potential of an asset as a result of wear, tear and obsolescence is referred to as
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Correct Answer: Option B
Explanation:
Depreciation is the reduction in the economic service potentials of an asset as a result of wears, usuage, tears and passage of time.
Depreciation is the reduction in the economic service potentials of an asset as a result of wears, usuage, tears and passage of time.