Question

Definition of depreciation by different authors

Answer 1

Answer:

“Depreciation may be defined as the permanent continuous diminution in the quality, quantity or value on an asset.” (By Pickles)

“Depreciation is the gradual permanent decrease in the value of an asset from any cause.” (By Carter)

“Depreciation may be defined as a measure of the exhaustion of the effective life of an asset from any cause during a given period.” (By Spicer & Pegler)

"Depreciation is the diminution in intrinsic value of an asset due to use and/or the lapse of time.” (By Institute of Cost and Management Accountants, England)

"Depreciation is the reduction in the value of a fixed asset occasioned by physical wear and tear, obsolescence or the passage of time.” (Northcott & Forsyth)

“Depreciation is the diminution in the value of assets owing to wear and tear, effluscion of time, obsolescence or similar causes.” (Cropper)