The process of allocating the cost of a plant asset to expense in the accounting periods benefiting from its use is called depletion.

Name: The process of allocating the cost of a plant asset to expense in the accounting periods benefiting from its use is called depletion.
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The statement describes the process of depreciation, not depletion. Depletion is the process of allocating the cost of natural resources over their useful lives.

The Process of Allocating the Cost of a Plant Asset