Depreciation, from an accounting viewpoint, can best be thought of as:

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Quizplus · Accepted Answer

Depreciation is the process of allocating the cost of a tangible asset over its useful life. It does not account for physical deterioration, as this is covered under repairs and maintenance expenses. Writing off assets like patents, trademarks, and copyrights is not depreciation, but rather amortization. Matching the carrying value of an asset with the estimated net realizable value of the asset is related to impairments, which are treated separately from depreciation. Therefore, choice D - allocating the cost of the asset to the periods in which it gives service - is the best option for the accounting viewpoint of depreciation.

Depreciation, from an Accounting Viewpoint, Can Best Be Thought of As