In the context of financial statements, which of the following represents the systematic reduction over time in the value of certain company assets?
A) Depreciation
B) Attrition
C) Recession
D) Deduction

Question

Quizplus · Accepted Answer

Depreciation is the accounting method of allocating the cost of a tangible or physical asset over its useful life, representing the decrease in value of assets over time, particularly for fixed assets like property, plant, and equipment.

In the Context of Financial Statements, Which of the Following