Depreciation plays a pivotal role in financial management, influencing a company's profitability, tax liabilities, and overall financial health. In this activity, we'll delve into why understanding and accurately accounting for depreciation is crucial for businesses, shedding light on how it impacts financial statements, tax planning, and long

$-$term strategic decision$-$making.

Instructions:

Discuss the following question:

$$ Explain the importance of the depreciation expense in the business.