The process of transferring the cost of an asset to an expense account is called all of the following except
A) depletion
B) allocation
C) amortization
D) depreciation

Question

Quizplus · Accepted Answer

Allocation is a general term and not specifically used for transferring the cost of an asset to an expense account. Depletion, amortization, and depreciation are specific methods used for this purpose.

The Process of Transferring the Cost of an Asset to an Expense