Complete the short paragraph to explain the concept of depreciation as used in accounting. less its estimated All Depreciation is the allocation of the cost of a tangible Depreciation is the process of allocating the cost of a except for decline in usefulness during their life, and this decline is an of the asset over the asset's useful life to reflect its usage. V. Depreciation also the Complete the short paragraph to explain the concept of depreciation as used in accounting. less its estimated All Depreciation is the allocation of the cost of a tangible Depreciation is the process of allocating the cost of a except for decline in usefulness during their life, and this decline is an of the asset over the asset's useful life to reflect its usage. V. Depreciation also the