A decrease in value of a fixed asset due to age wear and tear is known as ........

Accountancy (Phase -I & II) Accounting standards

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A decrease in value of a fixed asset due to age, wear and tear is known as

Depreciation

Accumulated depreciation

Appreciation

Written Down Value (WDV)

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Explanation:

A decrease in value of a fixed asset due to age, wear and tear is known as Depreciation. Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes.

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