WordValenoun
depreciation
the decline in an asset's value over time
In more detail
1. (noun) a decrease in the value or price of something over time
2. (noun) the reduction in value of an asset that a business accounts for in its financial records
Examples
- 1. The depreciation of the house over ten years meant it was worth less when they sold it.
- 2. The company claimed depreciation on their equipment as a tax deduction.
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