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Question

Which of the following statements is correct?

A The main objective of providing depreciation is to create secret reserves. Correct Answer Incorrect Answer
B The main objective of providing depreciation is to reduce the book value of assets. Correct Answer Incorrect Answer
C The main objective of providing depreciation is to allocate the cost of assets. Correct Answer Incorrect Answer
D The main objective of providing depreciation is to inflate profit. Correct Answer Incorrect Answer

Solution

The correct answer is C

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