Distinguish among the use of the terms depreciation, depletion, and amortization.

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Distinguish among depreciation, depletion and amortization?
Long lived assets are those assets which are helpful in increasing the earnings of the 
business. . Examples of long lived assets are plant and equipment, land & building 
intangible assets etc. These assets are very important because these will help the 
business in increasing their earnings .The cost of all long lived assets decline with the 
passage of time or due to the use of these assets and this reduction in the cost will be 
distributed among the years during which the benefits will be received from the assets.

Distinguish among the use of the terms depreciation, depletion, and amortization.

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