Business Terms and Jargon Explained
What is Depreciation
Is the reducing of value of a fixed asset to reflect the passing of time or wear and tear. If the value of a car is £35,000 now. Next year its value will be smaller because of the passing of time. E.g. next year its value may be £25,000 in which case the value would have depreciated by £10,000.
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Term created / updated 2005-07-16 23:12:15
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