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27.07.2022 - 18:26

To which category of elements of financial statements does depreciation belong?

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To which category of elements of financial statements does depreciation belong?

Answers (1)

Margie April 6, 2023 в 23:44

Depreciation belongs to the category of non-current assets in the financial statements. It represents the gradual decrease in the value of a tangible asset over time due to wear and tear, obsolescence, or other factors. Depreciation is deducted from the value of the asset on the balance sheet, and the amount of depreciation expense is recorded on the income statement as an operating expense.

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