How Often Do You Change Brake Fluid? Brake fluid is something thatâs important for the safe operation of your vehicle, but most people donât know how or when it should be changed. The average person drives anywhere from ten to fifteen thousand miles per year, and they use their brakes about 75,000 times.
DEFINITION of 'Depreciation'. 1. A method of allocating the cost of a tangible asset over its useful life. Businesses depreciate long-term assets for both tax and accounting purposes. 2. A decrease in an asset's value caused by unfavorable market conditions.
Learn what accumulated depreciation is. Accumulated depreciation is simply the total amount of an asset's cost that has been depreciated since the asset was purchased. In other words, it is the total amount of an asset's cost that has been charged as an expense since the asset was purchased.