What is depreciation? And its types?

Question

Accepted Answer

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence or other factors.

Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.
There are three types of depreciation: straight-line, accelerated, and units of production.
Straight-line depreciation is when the asset loses an equal amount of value each year.
Accelerated depreciation is when the asset loses more value in the early years of its life.
Units of production depreciation is when the asset loses value based on how much it is used.
Examples of assets that can be depreciated include buildings, vehicles, and machinery.

Accepted Answer

Depreciation is the decrease assets value when over time due to wear and tear. And its types is streight line method and written down value method.

Accepted Answer

An accounting method used to allocate the cost of a tangible or physical asset over its useful life or life expectancy. Depreciation represents how much of an asset's value has been used.

Straight-Line Depreciation.
Declining Balance Depreciation.
Sum-of-the-Years' Digits Depreciation.
Units of Production Depreciation

What is depreciation? And its types?

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