Computer · Estimation and Costing
Select the correct option related to valuation from the following statements. 1. The physical loss in the value of the property due to wear, tear, decay, etc., is called depreciation. 2. The loss in the value of the property due to change in design, fashion, structure, utility or demand is called obsolescence.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement 2 is true and Statement 1 is false
- 2Statement 1 is true and Statement 2 is false
- 3Both statements are true✓
- 4Both statements are false
Correct answer
Both statements are true
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