AbstractsLaw & Legal Studies

"In estimating and stating working costs, we are often brought face to face with an important item of expense, for which no receipt is ever given and no invoice is ever rendered, viz: DEPRECIATION. For this reason perhaps the different ways of charging this liability are innumerable. No two people often have their minds cast into similar moulds and in the charging of this item, the human and personal factor enters very largely into consideration. People differ widely as to just what part of the capital must be laid aside to meet "changing conditions in trade" and what ought to be charged as DEPRECIATION" – p. [4].