Depreciation Quiz
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Depreciation Quiz

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@BrotherlyScholarship

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Questions and Answers

Which of the following best defines depreciation?

  • The cost of maintaining an asset
  • A decrease in the value of an asset over time (correct)
  • An increase in the value of an asset over time
  • The total value of an asset

    • What are the main factors that can cause depreciation of an asset?

  • Increase in market demand
  • Inflation
  • Obsolescence (correct)
  • Regular maintenance

    • How does depreciation affect the financial statements of a company?

  • It decreases the company's net income (correct)
  • It increases the company's revenue
  • It has no impact on the financial statements
  • It decreases the company's expenses

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