Jurisdiction is the power to impose authority within a legal organization or a particular territory. It is a power bestowed upon by a government or a group of organisations to officially adjudicate authority over certain spheres and areas.
In a legal sense, jurisdiction is simply the authority of the courts to make decisions and issue orders at its own discretion. Jurisdiction has different meanings. Perhaps the most common understanding of jurisdiction is the allotted territory within which an organisation or a government can exercise its powers freely and willfully.
The term depreciation refers to an accounting method used to allocate the cost of a tangible or physical asset over its useful life or life expectancy. Depreciation represents how much of an asset's value has been used.
