O-LevelAccountingThe fundamentals of accounting7707/12 · Oct/Nov 2024 · Q151 Mark
Which statements are correct about depreciation? 1 It is a non-cash expense item. 2 It is an estimated amount. 3 It is the amount of money set aside to replace a non-current asset. 4 It is a gradual loss in the value of a current asset.
A1, 2 and 3
B1 and 2 only
C2, 3 and 4
D2 and 4 only
✓ Correct answer
B: 1 and 2 only
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