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Depreciation Quiz

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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

Depreciation Quiz

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Questions and Answers

Which of the following best defines depreciation?

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

How does depreciation affect the financial statements of a company?

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