The decrease in the monetary value of any object is known as depreciation. For example, a refrigerator is purchased for a price of 50,000 rupees. Reselling it three years later at an identical price will not be possible. The cooling and operating systems would have suffered wear and tear. Additionally, the technology would have needed to be updated. Thus, the resale value of the appliance would be lower than the price at which it was originally bought. This is known as depreciation. Similarly, the value of every intangible and tangible asset companies ow...
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