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.
Defining Depreciation and Depreciation Rate. The depreciation rate is the percent rate at which an asset is depreciated. A company determines the depreciation rate by dividing the depreciated cost of an asset by the number of years of its useful life. Depreciation is the periodic transfer of cost to expense.