Match each statement with the correct term below.
-Depreciation
A)Trucks, and passenger automobiles.
B)Used to recover the investment in intangible assets.
C)Used to recover the investment in long-lived tangible business-use assets.
D)An attempt to stimulate capital investment by small businesses.
E)Used to recover the investment in assets that waste away through extraction.

Question

Quizplus · Accepted Answer

Depreciation is the accounting process of allocating the cost of tangible assets over their useful lives and is used to recover the investment in long-lived tangible business-use assets.

Match Each Statement with the Correct Term Below