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Unit-17 Balance Sheet

Learn about the Balance Sheet which is prepared for ascertaining the financial position of the business as at the end of an accounting year.

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What are Wasting Assets?

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Learning Pundits Content Team

Written on Jun 26, 2019 12:20:40 PM

Wasting assets are the natural resources such as oil wells, mines, quarries, etc., which get exhausted after extraction of their contents are called wasting assets. A mine becomes valueless as soon as all the minerals have been extracted.