The cost of non-current assets recognised as being consumed during a fiscal period is:
A) plant expense.
B) depreciation expense.
C) interest expense.
D) cost of goods sold.

Question

Quizplus · Accepted Answer

The cost of non-current assets recognised as being consumed during a fiscal period is known as depreciation expense. This expense represents the decrease in the value of the asset due to wear and tear or technological obsolescence, and it is recognised in the income statement.

The Cost of Non-Current Assets Recognised as Being Consumed During