📒
Which of the following statements is correct about Depreciation?
Accountingmedium
ADepreciation cannot be provided in case of loss in a financial year
is a true statement.
CDepreciation is provided in the books only when there is profit
DDepreciation is an appropriation of profit Depreciation is provided as a charge against profits. It is not an appropriation of profit. It is provided irrespective of whether the business is making a loss or a profit. Hence statement
Correct Answer: B. is a true statement.
Related Questions
Accounting
The assets which have some market value are called ____________?
Accounting
Assets having physical existence are called ___________?
Accounting
When owner withdraw cash for its private use, it is called ___________?
Accounting
Building and furniture are called ____________?
Accounting
Which of the following is true about a trial balance?