Depreciation is the process of
A)valuing an asset at its fair value.
B)increasing the value of an asset over its useful life in a rational and systematic manner.
C)allocating the cost of a non-current asset to expense over its useful life.
D)writing down an asset to its fair value each accounting period.

Question

Quizplus · Accepted Answer

Depreciation involves spreading the cost of a tangible non-current asset over its useful life, reflecting the consumption of the asset's economic benefits.

Depreciation Is the Process of