Suppose Mail Boxes Etc.buys a new copier for its store for $1,000.A year later, when the firm wants to upgrade to a new copier, it finds that the old copier is only worth $750.Over the year the copier was used, _______ has occurred.

Question

Quizplus · Accepted Answer

Depreciation refers to the decrease in value of an asset over time due to wear and tear, obsolescence or other factors. In this case, the copier has lost value over the year through use, making C the correct answer.