Depreciation is the process of allocating the cost of a plant asset to an expense account in the accounting periods benefiting from its use.

Name: Depreciation is the process of allocating the cost of a plant asset to an expense account in the accounting periods benefiting from its use.
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Depreciation is the systematic allocation of the cost of a plant asset to an expense account over the asset's useful life. This matches the expense with the revenue generated by using the asset.

Depreciation Is the Process of Allocating the Cost of a Plant