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by Anonymous on June 5th, 2008

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What is the effect for not providing allowance for depreciation cost for assets?

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  • by Happysparrow on June 16th, 2008

    Happysparrow

    1 The proit or loss shown every year will be incorrect as the cost of using the asset is not included in the expenses. (if profit it will be higher and if loss lower)
    2.The year in which the asset's useful life gets over you will have to write off the full value in one go.

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