Question

what is the difference betweeen depreciation, amortisation and depletion class 11​

Answer 1

Answer:

Depreciation spreads out the cost of a tangible asset over its useful life, depletion allocates the cost of extracting natural resources, such as timber, minerals, and oil from the earth, and amortization is the deduction of intangible assets over a specified time period; typically the life of an asset.

Explanation:

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Answer 2

Depreciation -The term depreciation refers to an accounting method used to allocate the cost of a tangible or physical asset over its useful life or life expectancy. Depreciation represents how much of an asset's value has been used.

Amortisation - Amortization is an accounting technique used to periodically lower the book value of a loan or an intangible asset over a set period of time.

Depletion - Depletion is an accrual accounting technique used to allocate the cost of extracting natural resources such as timber, minerals, and oil from the earth.