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Depreciation may be caused by obsolescence. True or False?

Depreciation may be caused by obsolescence. True or False?

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true

Obsolescence is the state of being which occurs when an object, service, or practice is no longer wanted even though it may still be in good working order.

depreciation refers to two aspects of the same concept: The decrease in value of assets The allocation of the cost of assets to periods in which the assets are used Depreciation is a method of reallocating the cost of a tangible asset over its useful life span of it being in motion.

depreciation includes the decrease in the value of asset. thus if an asset is no longer wanted or is of use its value is minimising slowly, which is depreciation

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