Straight-Line Depreciation is a method used to allocate the cost of an asset evenly over its useful life. This means that each year, a fixed amount is deducted from the asset's value, reflecting its gradual wear and tear. For example, if a machine costs $10,000 and has a useful life of 10 years, it would depreciate by $1,000 each year. This approach is simple and widely used because it provides a consistent expense amount for budgeting and financial reporting. It helps businesses understand the true cost of using their assets over time, making it easier to plan for replacements or upgrades.