How can total depreciation from all sources be best described?

Total depreciation from all sources is best described as accrued depreciation. This term refers to the cumulative loss in value of a property over time due to various factors such as physical deterioration, functional obsolescence, and external obsolescence.

Accrued depreciation is a comprehensive measure that captures the total impact of these different types of depreciation, allowing real estate professionals to determine the current market value of a property compared to its original value. This is particularly important in property valuation, as it gives a clearer picture of the property's worth based on its current condition and market influences.

Physical deterioration refers specifically to the wear and tear a property experiences over time, while functional obsolescence pertains to a decline in the property's functionality or utility due to outdated design or features. External obsolescence is the loss in property value due to external factors, such as socio-economic changes or environmental conditions. Each of these types contributes to the overall total depreciation, but they do not encompass the entire scope like accrued depreciation does.