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Relative frequency indicates the probability of observing scores in the future.
Depreciation
The process of allocating the cost of a tangible asset over its useful life, reflecting its loss of value over time.
Equipment
Tangible assets used in the operation of a business, such as machinery, computers, and tools.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for an asset from the time it was put into service until a particular date.
Depreciation Expense
The systematic allocation of the cost of a tangible asset over its useful life, representing how much of the asset's value has been used up during a financial period.
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