The Double Declining Depreciation Method is the method of depreciation that does not initially factor in the residual value when calculating depreciation.
<h3>What is the Definition of Depreciation?</h3>
Depreciation is the phrase used to describe the decline in asset value. Due to usage, deterioration, or obsolescence, an asset decreases value over time.
The unit of measurement for this drop is depreciation. A reduction in asset value, or depreciation, can be caused by a number of other factors, such as unfavorable market conditions, etc.
Double declining depreciation method refers to the depreciation process that involved a twofold decline in asset value.
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