Passage: Depreciation is, simply put, the expense generated by the uses of an asset. It is the wear and tear of an asset or diminution in the historical value owing to usage. Further to this; it is the cost of the asset less any salvage value over its estimated useful life. A fixed asset can be depreciated using the straight line method which is the most common form of depreciation.  Tax depreciation is commonly calculated differently than depreciation for financial reporting.

Question: What is term used when an expense occurs because of the uses of an asset?
Depreciation