Account Process Associate

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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

Q2. Wthat is deprication

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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