Which of the following statements is correct about Depreciation?
A. Depreciation cannot be provided in case of loss in a financial year
B. Depreciation is a charge against profit
C. Depreciation is provided in the books only when there is profit
D. Depreciation is an appropriation of profit
Answer:D
Which of the following statements is correct about Depreciation?
A. Depreciation cannot be provided in case of loss in a financial year B. Depreciation is a charge against profit C. Depreciation is provided in the books only when there is profit D. Depreciation is an appropriation of profit