Account Process Associate

Account Process Associate Interview Questions and Answers

Updated 2 Jun 2023

Q1. What is deprecation

Ans.

Depreciation is the allocation of the cost of a tangible asset over its useful life.

Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.
It is used to spread the cost of an asset over its useful life for accounting and tax purposes.
Common methods of depreciation include straight-line, double-declining balance, and units of production.
Example: A company purchases a delivery truck for $50,000 and estimates its useful life to be 5 years. U...read more

Ans.

Depreciation is the allocation of the cost of a tangible asset over its useful life.

Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.
It is used to spread the cost of an asset over its useful life for accounting and tax purposes.
Common methods of depreciation include straight-line, double-declining balance, and units of production.
Example: A company purchases a delivery truck for $50,000 and estimates its useful life to be 5 years. U...read more

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