Question

Explain the meaning of depreciation. Enumerate different methods of depreciation

Answer 1

hey here is your answer

Depreciation is a method of reallocating the cost of a tangible asset over its useful life span of it being in motion. Businesses depreciate long-term assets for both accounting and tax purposes.

methods

1.Straight-line depreciation

2.Diminishing balance method

3.Annuity depreciation

4.Sum-of-years-digits method

5.Units-of-production depreciation method

6.Units of time depreciation

7.Group depreciation method

8.Composite depreciation method

hope it is helpful