What is meant by depreciation

1.	What is meant by depreciation
Answer» Depreciation is fall or reduction in the value of fixed tangible asset after/due to a period of time, accident ,any other reasons.<br>Reduced in the value of assets<br>Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value. Businesses depreciate long-term assets for both tax and accounting purposes.<br>It means fall in value of tangible fixed assets.

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