Decreasing in the value of fixed assets is called?


Question: Decreasing in the value of fixed assets is called?

A decrease in value of a fixed asset due to age wear and tear is known as depreciation. Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in values. If the assets value falls below its net book value. The asset is subject to an impairment write down.

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