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What Is Depreciation in Accounting and How Is It Calculated?

What is depreciation? Depreciation is the accounting process of allocating the cost of a tangible asset over its useful life. In simpler terms, it’s the rate at which an asset, such as machinery, equipment, and vehicles, loses its value over time due to wear and tear, deterioration, or obsolescence.  By depreciating an asset, businesses can […]

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