what is depreciation
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Depreciation is a 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.
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DescriptionIn accountancy, depreciation refers to two aspects of the same concept: The decrease in value of assets The allocation of the cost of assets to periods in which the assets are used Depreciation is a method of reallocating the cost of a tangible asset over its useful life span of it being in motion.
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