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Does gold ornament is depreciable

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Ac
138 Points Joined February 2022

does gold ornament are depreciable because of wear and tear uses ??

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On 13 June 2022 at 13:29 Report
Replies (9)
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GST Practitioner & Accounts
15083 Points Joined March 2014
Are they Assets of the Business ?.
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On 13 June 2022 at 13:36
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Ac
138 Points Joined February 2022

yes 

 

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On 13 June 2022 at 13:43
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Chartered Accountant
86505 Points Joined April 2011
Not at all.......
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On 13 June 2022 at 14:11
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1359 Points Joined October 2021
Why ?? can you please explain ?
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On 13 June 2022 at 20:12
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Chartered Accountant
86505 Points Joined April 2011
Gold value increases there is no wear & tear after fixed period.
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On 13 June 2022 at 20:30
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Profession Business
28196 Points Joined May 2017
Gold is one of the precious metals and is traded at bourses. It's value appreciates.
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On 14 June 2022 at 05:38
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1359 Points Joined October 2021
And it also has unlimited life
am I correct ??
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On 14 June 2022 at 15:50
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Chartered Accountant
86505 Points Joined April 2011
Yes you are.....
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On 14 June 2022 at 15:51
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Profession Business
28196 Points Joined May 2017
For the same reason it's ever normally existent.
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On 15 June 2022 at 11:56

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