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Correct the following statement and rewrite the statement. The residual value of an asset increases the amount of annual depreciation. - Book Keeping and Accountancy

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Question

Correct the following statement and rewrite the statement.

The residual value of an asset increases the amount of annual depreciation.

One Line Answer

Solution

The residual value of an asset decreases the amount of annual depreciation.

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Factors of Depreciation
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Chapter 7: Depreciation - Exercises [Page 243]

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