The straight-line method of depreciation is a commonly used method of allocating the cost of an asset over its useful life. There are several synonyms for this method, including the straight-line depreciation method, the fixed or equal installment method, the linear method, or the constant percentage method. These terms all describe the same basic concept of recognizing a consistent amount of depreciation expense each year, regardless of the asset's actual usage or performance. While the straight-line method is a simple and straightforward approach to depreciating assets, other methods may be more appropriate in certain situations, such as the accelerated depreciation method for assets that experience more rapid wear and tear.