Can anyone explain me depreciation

Lahari · 22 Jul 2024

Ok thanks

Cabuddy · 22 Jul 2024

Due to wear and tear due to obsolescence due to change in technology due to lapse of time the value of an asset decrease so we have to calculate depreciation on it at a given rate of interest if suppose you buy a vehicle after some years the value of vehicle will not remain same because due to use due to lapse of time the value of vehicle decrease it is called as depreciation if you buy a mobile phone and when you exchange it for a new phone the value of phone does not remain the same it decreases it is called as depreciation

Ayu · 22 Jul 2024

Yes why not what's a problem in depreciation