Under diminishing balance method, depreciation

Total amount of depreciation provided on the written down value method at the rate of 10% p.a on Rs 10,000 for first three years will be

Depreciation arises due to

All assets whose benefit is derived for a long period of time, usually more than one year are called as

The term depletion is used for

_____ method of depreciation is calculated on the original cost of assets.

The amount of depreciation charged on a machinery will be debited to

_____ is the permanent and continuous decrease in the book value of a fixed asset due to use, effusion of time, expiration of legal rights or any other cause.

Obsolescence and inadequacy are called the ____ factors causing depreciation.

Profit made on sale of fixed asset is debited to