Definition
The decrease in the value of an asset over time due to wear and tear, obsolescence, or other factors.
Example
The BH Corp.’s fleet of vehicles experienced depreciation of 15% per year, resulting in a loss of value for each vehicle.
The decrease in the value of an asset over time due to wear and tear, obsolescence, or other factors.
The BH Corp.’s fleet of vehicles experienced depreciation of 15% per year, resulting in a loss of value for each vehicle.