Depreciation is the decline in value of an asset over time due to normal wear and tear and to obsolescence. True False

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter18: Accounting For Long-term Assets
Section: Chapter Questions
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Depreciation is the decline in value of an asset over time due to normal wear and tear and to
obsolescence.
True
False
Transcribed Image Text:Depreciation is the decline in value of an asset over time due to normal wear and tear and to obsolescence. True False
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