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WAEC Agricultural Science 1995 Question 58

Question 58

Farm Management and Records

The loss in value of an asset due to wear and tear in the course of its use is known as

  1. A.depreciation
  2. B.salvage value
  3. C.appreciation
  4. D.net worth
  5. E.evaluation.
Show the answer and explanation

Answer: A (depreciation)

Explanation

Depreciation is the fall in value through use and age.