Depreciation is the allocation of the cost of the asset over the asset's useful life.

Name: Depreciation is the allocation of the cost of the asset over the asset's useful life.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

Depreciation is an accounting method used to allocate the cost of a tangible or intangible asset over its useful life. This allows for the cost to be spread out over the time period during which the asset provides benefits to the business.

Depreciation Is the Allocation of the Cost of the Asset