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What is Sinking Fund Method of Depreciation about?
The document contains questions about various accounting concepts related to depreciation. The sinking fund method is a method of depreciation where a fixed sum is regularly deposited at compound interest to accumulate an amount equal to the total depreciation of an asset by the end of its estimated life. The main object of providing depreciation is to calculate net profit. Depreciation arises due to wear and tear and decrease in the value of assets. Depreciation decreases capital.
- Author
- Senthil Kumar Ganesan
- Language
- EN