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Answer to Question #62555 in Accounting for Asif

Question #62555

please explain "Software expenses are depreciated on annual basis and charged to Profit and Loss Account"
Expert's answer
Software is amortised on a straight-line basis in profit or loss over its estimated useful life, from the date on which it is available for use. Stable depreciation rate on an annual basis is 10%, according to the NACErev2 classification.

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