Depreciation of Non-current Assets

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Middle Age

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Depreciation is the fall in the value of current assets. Depreciation is recorded as an expense of using the current assets. Depreciation ought to be recorded as it help the business to earn income over a number of years. The cost of using the asset has to be spread over its useful life to comply with the Matching Principle. Non-current assets will depreciate because it will physically wear and tear or deteriorate. The non-current assets can also become old-fashioned due to the advancement of technology.

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