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| given to using long words. |
| (used as a nonsense word by children to express approval or to represent the longest word in English.) |
| depreciation (dɪˌpriːʃɪˈeɪʃən) | |
| —n | |
| 1. | accounting |
| a. the reduction in value of a fixed asset due to use, obsolescence, etc | |
| b. the amount deducted from gross profit to allow for such reduction in value | |
| 2. | accounting a modified amount permitted for purposes of tax deduction |
| 3. | the act or an instance of depreciating or belittling; disparagement |
| 4. | Compare devaluation a decrease in the exchange value of currency against gold or other currencies brought about by excess supply of that currency under conditions of fluctuating exchange rates |
A decline over time in the value of a tangible asset, such as a house or car.