Define Depreciation. Explain various methods of Depreciation.

Depreciation is a fundamental concept in accounting and finance that refers to the gradual reduction in the value of tangible assets over time. In the context of tourism, which often involves significant investments in infrastructure, equipment, and property, understanding depreciation is crucial for effective financial management. Depreciation allows businesses to allocate the cost of an asset over its useful life, reflecting the wear and tear, obsolescence, or other factors that diminish its value.

Depreciation can be defined as the systematic allocation of the cost of a tangible asset over its estimated useful life. This allocation reflects the consumption of the asset's economic benefits over time. Essentially, depreciation accounts for the decrease in the value of an asset as it is used to generate revenue or fulfill its intended purpose.

Various Methods of Depreciation:

1. Straight-Line Depreciation:
   Straight-line depreciation is one of the simplest and most commonly used methods. Under this approach, the cost of the asset is evenly spread ____ ________ ____ _________ _________ __________ __________ ____ _____ ___ ______ __________.
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