WAEC Accounting 2018 Objective — Question 8
Question 8 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
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The apportionment of cost of a fixed asset to the profit and loss account is termed as
- A. expense
- B. depreciationCorrect
- C. loss
- D. appreciation
Explanation
Depreciation is the systematic apportionment/allocation of the cost of a fixed asset to the profit and loss account over its useful life.
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