A long-term asset that will be used for several years-say,a vehicle-appears on the income statement as a depreciation expense.

Name: A long-term asset that will be used for several years-say,a vehicle-appears on the income statement as a depreciation expense.
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Depreciation expense for a long-term asset like a vehicle is reported on the income statement to allocate the cost of the asset over its useful life, reflecting the decrease in value as the asset is used.

A Long-Term Asset That Will Be Used for Several Years-Say,a