The annual allocation of the cost of a long-term asset is recorded as a(n)_____.
A)depreciation expense
B)operating expense
C)accrual expense
D)cost of goods sold

Name: The annual allocation of the cost of a long-term asset is recorded as a(n)_____. A)depreciation expense B)operating expense C)accrual expense D)cost of goods sold
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Question

Quizplus · Accepted Answer

Depreciation expense is the correct term for the annual allocation of the cost of a long-term asset over its useful life.

The Annual Allocation of the Cost of a Long-Term Asset