Question

What is depreciation?​

Answer 1

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◉Depreciation is a method used to allocate a portion of an asset's cost to periods in which the tangible assets helped generate revenue.

◉A company's depreciation expense reduces the amount of taxable earnings, thus reducing the taxes owed

Answer 2

Explanation:

In accountancy, depreciation refers to two aspects of the same concept:first,the actual decrease of fair value of an asset ,such as the decrease in value of factory equipment each year as it is used and wears,and second , the allocation in accounting statements of the orginal cost of the assets to periods in which the assets are used (depreciation with the matching principle).

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