The annual or periodical payment for repayment of the capital amount invested on a property for a specified period is known as:
Right Answer is:
Annuity:- The annual payment for repayment of the capital amount invested on a property for a specified period is called an annuity.
Depletion: Depletion is used in respect of the extraction of natural resources like quarries, mines, etc., that reduce the availability of the quantity of the material or asset.
Obsolescence: Obsolescence refers to a decrease in usefulness caused by the account of the asset becoming out of date, old-fashioned, etc. The fact remains that obsolescence is regarded as one of the causes of depreciation.
Amortization: It refers to writing off the proportionate value of the intangibles such as goodwill, copyright, patents, etc.