The periodic expense created by allocating the cost of plant and equipment to the periods in which they are used, representing the expense of using the assets, is called:
A) Accumulated depreciation.
B) A contra account.
C) The matching principle.
D) Depreciation expense.
E) An accrued account.

Question

Quizplus · Accepted Answer

Depreciation expense is the periodic expense created by allocating the cost of plant and equipment to the periods in which they are used.

The Periodic Expense Created by Allocating the Cost of Plant