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When precision for depreciation account is maintained, the annual charge for depreciation shall be

When precision for depreciation account is maintained, the annual charge for depreciation shall be
  • A.
    debited to the provision account and credited to profit and loss account
  • B.
    debited to the asset account and credited to profit and loss account
  • C.
    debited to profit and loss account and credited provision account
  • D.
    debited to the asset account and credited to the provisio account
  • E.
    debiited to theprovisiom account and credited to the asser account
Correct Answer: Option C
Explanation