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Depreciation, Provisions and Reserves — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountDepreciation, Provisions and Reserves1 Mark
Question
Assertion - Depreciation is an expense which does not involve cash.
Reason - Depreciation is a gradual fall in the book value of tangible assets either due to use or with the efflux of time.
✓

Answer

Both Assertion and Reason are correct, and Reason is the correct explanation of assertion.

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