Recording depreciation each period is necessary in accordance with the
A) going concern principle.
B) cost principle.
C) matching principle.
D) asset valuation principle.

Question

Quizplus · Accepted Answer

Depreciation is the systematic allocation of the cost of an asset over its useful life in order to match the expense with the revenue generated from the asset. This is in accordance with the matching principle, which requires that expenses be recognized in the same period as the revenue they generate.

Recording Depreciation Each Period Is Necessary in Accordance with the