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  9. Q30

SSC GD Constable 2024 · Question 30 of 75

Which of the following statements is correct regarding Depreciation? 1. Depreciation is termed as loss of value of fixed assets due to wear and tear during its useful life. 2. Depreciation does not take into account unexpected or sudden destruction.

  1. AOnly I
  2. BBoth I and IICorrect
  3. CNeither I nor II
  4. DOnly II

Answer: B. Both I and II

Explanation

Both statements are correct: 1. Depreciation refers to the gradual reduction in the value of fixed assets due to regular usage and aging. 2. It excludes unexpected or sudden destruction, which is accounted for separately. Thus, the correct answer is Both I and II.

Source: SSC GD Constable 2024 Official Paper (Held On 20 Feb 2024 Shift 3) English — Prepp (with answer key and explanations) · reliable-secondary

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