Depreciation refers to the periodic allocation of the cost of a tangible long-lived asset over its estimated useful life.

Question

Quizplus · Accepted Answer

This statement is true. Depreciation is the process of allocating the cost of a tangible long-lived asset over its useful life. This is typically done for accounting and tax purposes to spread the cost of the asset over the time period in which it provides value to the business.

Depreciation Refers to the Periodic Allocation of the Cost of a Tangible