A type of physical asset that is capable of depreciation treatment. It is generally an asset used for generating income or profit and has the useful life of more than a year and gradually reduces in value over time.
Definition from Nolo’s Plain-English Law Dictionary
Property with a useful life of at least one year that gradually loses its value over time. A business deducts the cost of a depreciable asset over a period of time.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:14 pm