Mention what is the difference between depreciation and amortization?Mention in simple terms what is the difference between Asset, equity, and liabil

Depreciation is a value which used to fixed tangible assets like movable items like machinery and vehicles. 

Amortization is used to intangible assets like a good will and copy rights

All items and products owning by company is assets.

Equity is the amount of shares the company issued to it's owner or shareholders.

Liability is the financial responsibility the company has towards other companies.

The main differece is as follow

Asset, which is useful, valuable, ant its generating revenue to the firm/company.

Liability, which is a financial obligation for the firm/company that it need to pay over either the short term or long term.

Equity, the ownership intrest of shareholder in a corporation. the organisation net worth , calculated by by assets less liabilities.

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Both are devaluation of assets.

Depreciation for Tangible Assets.

Amortization for Intangible Assets.

Depreciation is the amount write-off amount, per period, calculated over the lifespan of tangible/physical assets such as vehicles, furniture, etc. Amortization is the same principle as depreciation but used for intangible assets such as goodwill and patents. Both methods as used to set off the cost of the aset against the revenue or income it generates.

Asset - owned by the company and will provide future economic benefit, or generate profits/revenue.

Liability - this is a financial obligation for the company which it will need to pay over either the short term or long term.

Equity- the organisations net worth, calulated by assets less liabilities.

Depreciation refers to the decrease in the value of a Tangible Fixed Asset (such as Building, Plant and Macinery, etc), where as, Amortization refters to the decrease in value of an Intangible Fixed Asset (such as Goodwill, Trademark, etc).

Asset refers to those items in the Balance sheet owned by a Company that give a benefit either in the Short run or Long run. Assets = Non Current Assets + Current Assets + Investments + Cash and Bank balance.

Equity refers to the amount of Capital that a Company raises by means of Shares (Equity shares or Preference shares).

Liabilities refer to the total amount that a Company is liable to pay to their Creditors (such as Debenture holders, Trade Creditors, Suppliers, etc.). Liabilities = Capital + Non Current Liabilities + Current Liabilities.

Depreciation a value which used to fixed tangible assets like building, machinery, cars, and amortization is used to intangible assets like a good will, copy rights, etc.

All those product/items which have some value and its ownership belong to company its call Assets and Equity means "investment of owner" in business, last one is  Liability which is debts of company.

Hope Answer the question.

Thanks

As We all know about major two types of Assets.

1. Tangible Assets

2. Intangible AssetsSo We charge depreciation to tangible Assets like building/machinery/fixture & Amortization to in Tangible Assets like goodwill, copy rights, patents etc...Assets are the Business properties, Liabilities are the debts of the Business  & finally Equity is the personal investment or net worth of Owner. Thanks

• The defference between amortization and depreciation is that amortization charges off the cost of an intangible asset, while depreciation does so for a tangible asset
• Asset are cash, properties, or things of values owned by the business. Liabilities are amounts the business owes to creditors. Owner's equity is the owner's investment or net worth

Depreciation is decrease in value of fixed tangible assets and amortization is in intangible assets.

Assets are the thing which have some value and are the ownership of the the business and equity is the investment of the owner and liabilities are the debts of the business.