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What is depreciation

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Reference no: EM13513162

(a) What is "Depreciation"? Classify it and explain the factors to be considered in assessing the rate of depreciation.

(b) What consideration should govern the amount to be provided (if any) for depreciation or diminution in the value of the following assets appearing in a balance sheet?

(i) Goodwill.

(ii) Leasehold land and buildings.

(iii) Plant and machinery.

Reference no: EM13513162

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