Question

Explain the significance of the following words ordinance and depreciate

Answer 1

Depreciation is an accounting method in which a cost is allocated to all the tangible assets over its useful life and used to find out the decline in value. Long term assets are depreciated by the businesses for tax and accounting purposes. For taxes, they can deduct the cost of tangible assets purchased by them for business expenses. While the ordinance is a decree issued by national or state government without the consent of legislature. It is issued for raising revenue or for mobilizing resources during an emergency.

Answer 2

Ordinance: A rule of law that signifies authority and command. It is a command establish for the public to heed.

Depreciation: to lessen the value of something usually a property or an asset. It can also be connected to reducing the purchasing power of money.