Answered: What does the word depreciation means…

What does the word depreciation means to a business or individual and what are the various types of depreciation methods?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 6DQ: Define depreciation as it relates to a van you bought for your business.

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What does the word depreciation means to a business or individual and what are the various types of depreciation methods?

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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