The loss in the value of an automobile that occurs over its period of ownership is called:
A) reinsurance.
B) the acquisition payment.
C) the market price.
D) the repurchase commission.
E) depreciation.

Question

Quizplus · Accepted Answer

The loss in the value of an automobile is called depreciation. Depreciation occurs as the vehicle gets older and is impacted by factors such as wear and tear, market demand, and technological advancements. It is a natural part of vehicle ownership and can have a significant impact on resale value.

The Loss in the Value of an Automobile That Occurs