Depreciation expense for a period is the portion of the cost of an item of property, plant and equipment that is allocated to that period.

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Quizplus · Accepted Answer

Depreciation expense is indeed the portion of the cost of an item of property, plant and equipment that is allocated to a particular accounting period. This allocation is made systematically over the asset's useful life in accordance with generally accepted accounting principles (GAAP).

Depreciation Expense for a Period Is the Portion of the Cost