Which accounting principle directs the depreciation process?

Name: Which accounting principle directs the depreciation process?
Brand: Quizplus
Rating: 4.9 (59 reviews)

Question

Quizplus · Accepted Answer

The matching principle directs the depreciation process. This principle requires that expenses be recognized in the same accounting period as the revenues they help generate. Depreciation expense is recognized over the useful life of an asset, which allows for a matching of the cost of the asset with the revenue it helped generate in each accounting period.

Which Accounting Principle Directs the Depreciation Process