Depreciation is the process of allocating the cost of a long-lived asset (such as property, plant, and equipment) over its service life in a(n)
A) equal and equitable manner.
B) accelerated and accurate manner.
C) systematic and rational manner.
D) conservative market-based manner.

Question

Quizplus · Accepted Answer

Depreciation is the allocation of the cost of a tangible asset over its useful life in a systematic and rational manner, reflecting the asset's consumption or wear and tear over time.

Depreciation Is the Process of Allocating the Cost of a Long-Lived