📝 One-liners · 70 cards
Depreciation & its Accounting
Define depreciation.
Systematic allocation of fixed asset cost over useful life due to wear, time, or obsolescence.
Is depreciation a cash expense?
No, depreciation is a non-cash expense; no actual cash outflow occurs.
Which assets are NOT depreciated?
Land (indefinite life); intangibles are amortised, not depreciated.
What is historical cost in depreciation?
Purchase price + freight + duties + installation + costs to bring asset to working condition.
🔒
Unlock 70 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Depreciation & its Accounting.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days