Recording depreciation each period is necessary in accordance with the

Name: Recording depreciation each period is necessary in accordance with the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The expense recognition principle, also known as the matching principle, requires that expenses be recognized in the same period as the revenues they helped to generate. Depreciation is an expense that is recognized over the useful life of an asset, so it must be recorded each period to match the cost of the asset with the revenue generated by its use.

Recording Depreciation Each Period Is Necessary in Accordance with the