Accounting · Depreciation
Which of the following statements is correct with respect to depreciation?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1If a machine is not used by the company in a particular year, there is no need to charge depreciation.
- 2Depreciation is charged on land as it has a useful life of more than one year.
- 3Depreciation is the result of fluctuations in the market value of fixed assets.
- 4The written down value method of depreciation is suitable for an asset that depreciates more in the early years of its life and less in the later years.✓
Correct answer
The written down value method of depreciation is suitable for an asset that depreciates more in the early years of its life and less in the later years.
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