Accounting · Depreciation Principles
Assertion (A): Even if an asset is not used during a particular financial year due to a temporary strike or breakdown, depreciation must still be charged in the Profit and Loss account according to the accrual concept. Reason (R): Depreciation is not only a measure of the wear and tear due to use but also accounts for the passage of time, legal expiration of rights, and expected obsolescence, which continue regardless of whether the asset is physically functioning.
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- 1A is false, but R is true.
- 2A is true, but R is false.
- 3Both A and R are true, but R is not the correct explanation of A.
- 4Both A and R are true, and R is the correct explanation of A.✓
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Both A and R are true, and R is the correct explanation of A.
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