depreciation
/dɪˌpɹiːʃɪˈeɪʃən/ · de.pri.ca.tion
noun
- The state of being depreciated; disparagement. The politician's reputation suffered from depreciation after the scandal.
- The decline in value of assets. The company's assets experienced depreciation due to the economic downturn.
- The measurement of the decline in value of assets. The accountant calculated the depreciation of the building over its lifespan.
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Did you know? The concept of depreciation is crucial in accounting, as it allows businesses to spread the cost of assets over their useful life, rather than expensing them all at once.