The objectives of providing depreciation on an asset are ________.
A. To ascertain the true profit/loss of the firm
B. To provide funds for the replacement of the fixed assets
C. To show the true financial position of the firm
D. All of the above
Answer:D
The objectives of providing depreciation on an asset are ________.
A. To ascertain the true profit/loss of the firm B. To provide funds for the replacement of the fixed assets C. To show the true financial position of the firm D. All of the above