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    Question

    What does "Depreciation"

    mean?
    A Shutdown of a plant due to a lockout Correct Answer Incorrect Answer
    B Shutdown of a plant due to labor issues Correct Answer Incorrect Answer
    C Loss in the value of an asset due to wear and tear over time Correct Answer Incorrect Answer
    D Destruction of a plant due to fire Correct Answer Incorrect Answer

    Solution

    Depreciation refers to the reduction in the monetary value of a tangible asset due to factors such as wear and tear, obsolescence, or prolonged use. It is an important concept in accounting, reflecting the asset's declining value.

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