What is meant by Depreciation in Accounting? Explain the difference Methods of Depreciation?

Depreciation in accounting refers to the systematic allocation of the cost of a tangible asset over its useful life. It represents the decrease in the value of an asset due to wear and tear, obsolescence, or other factors. Depreciation is important because it helps match the cost of using assets to the revenues they generate over time, reflecting the consumption of the asset's economic benefits.

There are several methods of depreciation, each with its own way of calculating and allocating depreciation expense:

1. Straight-Line Depreciation: This method ___ ___ ___ ______ ________ ______ __________.
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